The European Union and the United States finally started trading frameworks after tense negotiations between the chief trade officials, and talks with China the day before the latest customs talks in the United States.
Ultimately, the leaders of Washington and Brussels faced their faces to reach the Sunday agreement.
It is also seen in other transactions struck by President Donald Trump. His personal participation went beyond the line even when the groundbreaking prospects seemed to be not bright.
This is important to both sides because many businesses and jobs rely on the EU to call “the world’s largest quantum trade and investment relationship.”
The Trump administration celebrates this as a great victory and will be in many ways. But he was not completely defeated by the European Commission President Ur Kulla von Der Rayen.
“The entire European media is praising the president,” said JD VANCE.
“Tomorrow, the US media has no doubt, ‘I only got 99.9 % of Donald Trump’s request.”
The comfort is that the EU faces 15% US tariffs, not 30% threatened.
But in April, Trump’s so -called liberation is much higher than the day, and it’s still as good as the 10% speed of the UK.
Brussels can point out that the low ratio applies to many major European exports, including drugs and semiconductors.
In addition, EU auto manufacturers will face 15% US imports, not 25% of global tariffs raised in early April.
In return, however, the EU said, “We are opening our country with zero tariffs,” Trump said.
EU steel and aluminum will continue to face 50%tariffs when they are sold to the United States.
Blocks have spent a few weeks to prepare for retaliatory tariffs and to follow them, and to present them as difficult negotiations.
The threat would have recorded 100 billion euros ($ 117.6bn; £ 87.5 billion) of US products sold to the EU.
In May, a list of 217 pages that can be targeted was posted. Everything from livestock to aircraft parts and whiskey has been included.
But entering the talks was a big challenge for Brussels to negotiate.
It is ideal for timing to be in danger of trade war with the world’s largest economy.
Europe’s economic growth has been sluggish for a while, and last week, the European Central Bank warned that “the environment remains very uncertain, especially due to trade disputes.”
The transaction, which eliminates some of its uncertainty and ultimately negotiates a deal with 27 EU members, decided that the 15% tariff of President Trump decided that even if the volume was reduced, it was worth the price even if the trading volume was reduced.
Europe also relies heavily on US security. Behind the Brussels negotiation team, Trump would have been concerned that they could potentially stop weapons supply to Ukraine, drag US troops out of the region, or leave NATO.
In Trump, the announcement is winning another major victory as the tariffs still shine in the deal with Japan last week.
The contract is also the same as the expectation of tariff income of about $ 90 million (£ 67 billion) for government safe depending on last year’s trade value.
As part of the contract, the EU will also buy hundreds of millions of US energy products and weapons.
Trump said the EU said it would increase its investment in the United States, including US military equipment, and spend $ 75 billion in energy.
The contract is sold as a groundbreaking moment in the relationship between Washington and Brussels.
At this point was not easy.
Both I was hardball and I was not ready to give up easily, but I wanted this negotiations to go beyond the deadline on August 1.
For many years, the United States has opposed it as an unfair trade practice in Europe.
The first part of it is a deficit. Last year, the United States bought more $ 236 billion from the EU than it was sold to the block.
Trump takes a somewhat simplified view of leaving the country unnecessarily because it is an American call. The reality is that international trade is more complicated.
Another complaint is that the EU’s strict rules for everything, from cars to chickens, make it harder for US companies to sell their products than other methods in the EU.
President Ursula von der Leyen European Commission recognized the need to resolve the deficit.
She announced this agreement and said, “We must re -adjust it, we have a great trade relationship.
“It’s a huge amount of deal we are with. So we will make it sustainable.”
This deal shows how serious President Trump is about how the United States, the world’s largest economy, is doing business with others.
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It’s been a few days since the United States signed another major contract with Japan. It is also traded with the UK, Vietnam and Indonesia.
The other big people still on the table are with the three major US trade partners in Mexico, Canada and China.
And with the US president, there may be more positive news about the world economy for the next 48 hours.
In a few months, the United States and China are holding trade negotiations in Stockholm, Sweden on Monday and Tuesday.
It is expected that the tariffs between the two largest economies in the world will be suspended for 90 days.
A few days ago, Trump said that the United States is going well with China.
EU’s extensive outline I agreed to the transaction, which has an enhanced hand when Washington’s trade negotiators have a conversation with Beijing.
However, China has taken a more compromised approach than other US trade partners.
And if the dialogue between the two largest economies in the world is shaking, world trade can still be confused in the next few months.
