US Edition
US and EU agree trade deal, says Donald Trump
- At Turnberry golf resort in Scotland, President Trump discussed the looming deadline as the EU prepared €93 billion in countermeasures set for August 7 if no deal is reached.
- To avoid harm, EU states approved counter tariffs on $109 billion of US goods effective from August 7, after US threats to impose a 50% duty, now lowered to 30%.
- The agreement establishes a 30 per cent tariff on most EU goods entering the US and commits to US energy purchases, including liquefied natural gas.
- Reactions split across Europe, with German Chancellor Friedrich Merz welcoming the deal for preventing unnecessary escalation, while Wolfgang Niedermark cautioned about 15 per cent tariffs harming German exports.
- Beyond the immediate accord, the deal still requires approval by all 27 EU member states, with US Treasury Secretary Scott Bessent seeking to extend the August 1 deadline.
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791 Articles
Portugal questions fairness of EU-U.S. tariff deal, warns of high costs, limited gains
LISBON, July 28 (Xinhua) -- Portugal has raised concerns over the recently concluded tariff agreement between the European Union (EU) and the United States, describing it as a limited improvement that falls short of true free trade and comes at a steep cost for both sides. Read full story
Lavrov opines that US trade deal will fuel EU's ongoing 'deindustrialization'
The agreement has dealt a "very hard blow" to a number of business sectors in the bloc, the Russian foreign minister has said The new US-EU trade agreement threatens to accelerate "deindustrialization" in Europe by redirecting investment to the US and increasing the bloc's dependency on American energy exports, Russian Foreign Minister Sergey Lavrov has said. On Sunday, European Commission President Ursula von der Leyen and US President Donald T…
The American president gets what he wants in the tariff conflict to a large extent, perhaps also because the most important economies in the EU are still not in agreement.
Although an agreement has been reached, the details and economic effects are still pending.
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