What’s in the EU-US trade deal?
“We are agreeing that the tariff straight across, for automobiles and everything else, will be a straight across tariff of 15%,” according to Trump.
Currently, most EU goods face a 10% tariff, with levies of 50% on steel and aluminum. Cars and car parts are now taxed at 25%.
Trump also said the bloc had agreed to purchase “$750 billion (€638 billion) worth of energy” from his country, as well as $600 billion more in additional investments.
The president told reporters at the start of the meeting that fairness was the main remaining sticking point.
“Europe is very closed. We don’t sell cars into Europe. We don’t sell essentially agriculture of any great degree,” he said, adding that pharmaceuticals “won’t be part of” any agreement.
Although buying energy from USA means as LNG. Which is too expensive and can hurt the economy in the long run. Seems more like a bribe to avoid high tariffs for the big EU companies that export to US. Also $600 billion additional investments in US, that could made in EU.
I never said dealing with an overbearing ultramilitarized jingoistic fascist state was easy or convenient. I’m just saying, as concessions go, this one doesn’t run against immediate European interests that much.
I don’t know. This show looks like how to avoid bullets. We gained nothing. We just avoided the 30% tariff with a 15% one.
I think Europe sees this as a stopgap solution to mitigate the economic impact until the midterms. If the dems win the house back - which appears likely - they’ll stop Trump’s illegal tariffs and reverse those “deals” that Trump had no right to make in the first place.