- I'm sorry. This is the best deal we could accomplish under very hard circumstances. Yesterday we started talks with a ceiling of 30% of customs duties – he said, answering the questions of journalists in Brussels, EU Trade Commissioner, Maros Sefcović.
What specifics have von der Leyen and Trump agreed?
A single rate of work of 15% on the vast majority of EU exports to the US, $750 billion for EU strategical purchases in the US and an additional $600 billion for the private investments of European companies in the superpower economy – Sefcović calculated in Brussels.
He besides pointed out that European companies had "clearly said" Brussels that escalation should be avoided and work for a solution that would bring a fast "flame". He stressed that economical war would halt trade and endanger millions of jobs. He besides recalled that in the background of the agreement there are theoretically purely commercial jobs, safety or joint actions of the West against the Russian attack on Ukraine.
The aviation manufacture will benefit
The rate of 15% will apply, among others, to the automotive, semiconductor and pharmaceutical sectors. Sefcović pointed out that the agreement concerns not only the current "mutual and advanced sector duties", but besides future duties on pharmaceutical products, semiconductors and wood".
The agreement besides provides for zero duties on goods, an increase in exchange which is in the interest of both parties. Champagne can be opened by the aviation industry, chemical manufacturers or generic medicines, any agricultural products, critical natural materials and natural resources. The list of these products is open and can change.
Steel, cars, strategical shopping
Commissioner Sefcović besides mentioned "metal soy". This is about joint actions in the fields of steel, aluminium, copper and their derivatives – which the Commission sees in a "clear perspective" in a deal struck in Scotland with Washington. The aim of specified European-American cooperation would be to make a protective barrier around both economies.
European car manufacturers may enjoy it. - We're reducing duties from 27.5% to 15 percent in terms of cars. Our producers will be able to grow their exports to the United States," Sefcović stressed.
The agreement besides provides for strategical energy purchases. "We are talking not only about liquefied gas, but besides about oil and much needed both now and for future atomic power plants in Europe – atomic fuel", Sefcović emphasized. At the conference, he mentioned the "nuclear energy renesans" in the EU twice.
American technology companies can enjoy EU shopping. “The AI chips will aid power our Gigafactory AI and aid the US keep technological advantage,” says Ursula von der Leyen.
The Union needed success
The head of the EC, whose position has been severely strained by the hard start of the second word and the failure in the process of her correspondence with the head of Pfizer and the vote of distrust – although won – in the European Parliament, much success was needed. Months of negotiations, which were blocked by further announcements of Trump's increases in customs and the EU's threats of contravention, seemed to be geared – from the point of view of European negotiators, going from March on a regular basis to Washington – to the slow outing of the agreement.
Meanwhile, 2 weeks ago Trump one more time raised the stakes – in his letter to von der Leyen he threatened to rise the duties to 30% if the deal was not made by the end of the month.
So to make a deal, the German and her squad flew to Scotland, where Donald Trump went on a vacation playing golf. erstwhile entering negotiations, they both assessed the chances of success as 50 percent.
Since Trump's goal was to increase customs duties for Europe, of course he announced success. But besides as a success he tries to present to the planet the results of the EU's execution talks. Although the EU has been trying to build fresh trade partnerships worldwide for months, it realises that the most crucial partner is the biggest.
The EU is on a breakthrough and Trump is celebrating
Mr Sefcović recalled this, saying on Monday in Brussels that the rate of negotiations in Scotland was 1.7 trillion US-EU trade. He added that he hoped to conclude a "wider trade and investment agreement" in the future.
The experienced Slovak spoke of "a breakthrough" and "opening the door to strategical cooperation," he emphasized that "you had to spend quite a few time to calibrate the favourable and for Brussels, and for Washington the result of negotiations."
However, it was the Union that wanted zero work rates, and the White home wanted them increased. And the duties remain, only less. Trump, as he intended, placed duties on the Union, only smaller than he predicted.
Cool media reactions, Heads of State and Government
Therefore, on Monday 28 July, erstwhile the European Commission provided information on the agreement to the associate States and members of the European Parliament, the press criticised it and politicians were restrained – with 1 exception. German Chancellor Friedrich Merz estimated that "a trade conflict could have been avoided, which would have hit the export-oriented German economy heavily" and "maintained basic interests."
The French abroad Minister praised the exceptions to the 15-percent duties that are crucial to the French economy (air industry, alcohols, medicines), but assessed that the US "rejected free trade" and that we gotta learn from it.
The Italians responded positively to the compromise from Scotland, although Prime Minister Giorgia Meloni said she did not know the details yet. Spanish Prime Minister Pedro Sanchez "appreciates efforts" Ursuli von der Leyen and supports the deal, but "without any enthusiasm". Romania's Prime Minister Ilie Bolojan praised the elimination of uncertainty in transatlantic relations, the head of the Danish MFA Lars Roke Rasmussen briefly assessed that "trade conditions would not be as good as they were" and it is not a choice of Europe, but a balance is necessary.
The exception was Hungarian Prime Minister Viktor Orban, who utilized the agreement to attack von der Leyen, calling her a "freak weight" player in the negotiations, and Trump a heavyweight. In his opinion, "Trump ate von der Leyen for breakfast".
