Trump said that the EU plans to boost its investment in the U.S. by $600 billion compared to before. They’ll also buy U.S. military equipment and energy products worth $750 billion.
He mentioned that tariffs on steel and aluminum will stay the same. Energy is a big part of the deal, which should help the auto industry and could have a big effect on farming. The U.S. will also put a lot of effort into developing the chip industry. Besides, the British Prime Minister is happy with the agreement.
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Von der Leyen: 15% tariff rate is the best outcome the European Commission could secure
·On the 27th local time, after announcing alongside President Trump that the EU and the US had made a big new trade deal, European Commission President Ursula von der Leyen explained some of her choices in the US trade talks to the public.
·Von der Leyen mentioned that the EU still depends a lot on Russian liquefied natural gas, so bringing in more affordable gas from the US is definitely a good idea.
·Von der Leyen said that the tariff for the auto industry in the deal is set at 15%, and she believes that’s the best the European Commission could get right now.
·She also confirmed that the EU and the US have agreed on something in the pharmaceutical industry. From now on, they'll both use the same tariff rate of 15%.
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Senior European Parliament official: US-EU trade deal seriously unbalanced, harming European interests
·On the 27th local time, after the US and EU announced they’d reached a new trade deal, Bernd Lange, who leads the European Parliament’s International Trade Committee, was pretty clear: he’s not happy with it. He said the agreement isn’t good enough and doesn’t really serve Europe’s core interests.
·Lange said this deal isn’t really fair. He thinks that although setting a 15% flat tariff might make trade a bit easier to predict and feel more secure legally, overall, the agreement isn’t balanced. In fact, it could end up hurting Europe in the long run.
·Lange said that the European Commission’s plan to invest an extra $600 billion in the US, plus making big buys of US military tech, hurts jobs and industry growth back home in Europe.
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