The United States and European Union have struck a major trade agreement imposing a 15% tariff on most EU exports to the US, averting a threatened 30% rate and a potential transatlantic trade war.
While the deal brings relief to markets and some industries like aviation, it is widely criticized in Europe as lopsided, with France and Germany calling it a 'submission' and a 'dark day.' The agreement includes exceptions for key sectors and a pledge by the EU to buy more American energy and military goods, but European exporters—especially in pharmaceuticals and steel—face significant new costs. The deal is seen as a political win for President Trump, who used tariff threats to extract concessions, but it raises concerns about higher prices and slower growth on both sides.
European leaders are now preparing potential retaliatory measures in case the US hardens its stance or fails to honor the agreement.
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