US EditionUS and EU agree trade deal, says Donald Trump
UNITED STATES, JUL 29 – The agreement sets a 15% tariff on most EU exports to the US and includes commitments for $600 billion EU investment and $750 billion US energy purchases.
- The US and EU agreed to a trade deal where European exports to the US will be hit with a 15% tariff, lower than the 30% threatened but higher than the tariff-free trade the EU offered.
- The deal did not achieve a breakthrough on steel, aluminium or copper, which are still facing a 50% tariff, and the average tariff on EU exports to the US will rise from 1.2% last year to 17%.
- Economists said the economic outlook has deteriorated, with growth in the EU likely to drop by 0.2%, and while the US appears to be the winner, uncertainty still hangs over the US economy.
864 Articles
864 Articles
Trump's Misleading Justification for Higher Tariffs on Imports of EU Goods
The United States and the European Union have reached a preliminary trade deal to avoid a 30% U.S. tariff on imported goods from the EU that President Donald Trump threatened would go into effect on Aug. 1. Trump had argued that higher tariffs were needed because EU tariffs and nontariff policies “cause the large and unsustainable trade deficits” between the U.S. and the EU, but economists disputed that statement.
"EU-US trade deal will have major consequences for Port of Antwerp": Much uncertainty remains
The management of the Port of Antwerp has expressed mixed feelings with regard to the new US import tariffs on EU products. There is relief that the feared 30 per cent tariff has not materialised, but there is still a lot of uncertainty about the 15 per cent tariff. ‘A trade agreement is better than a trade war,’ believes Port of Antwerp CEO Jacques Vandermeiren.
Commerce Secretary Howard Lutnick Discusses U.S-EU Trade Deal - The Last Refuge
Commerce Secretary Howard Lutnick describes some of the details within the new U.S-European trade agreement. As noted, the $600 billion in regular trade products exported by the EU to the USA market will be subject to a 15% reciprocal tariff. This approach effectively ends the Marshall Plan, sets the trade terms to balance and should […] The post Commerce Secretary Howard Lutnick Discusses U.S-EU Trade Deal appeared first on The Last Refuge.
Commerce Secretary Lutnick celebrates Trump's 'monster' EU trade deal as 'huge' win for America
Commerce Secretary Howard Lutnick praises White House's 'monster' trade deal with EU that he says cuts tariffs and barriers for American businesses, farmers, ranchers and fishermen.
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