Trump tariff of 15% means European exporters will face more than triple the average 4.8% levy now in force
The US-EU trade deal, clinched in a ballroom at Donald Trump’s golf resort in Scotland on Sunday, has been criticised by France’s prime minister and business leaders across Germany.
The deal, which will impose 15% tariffs on almost all European exports to the US including cars, ends the threat of a punitive 30% import duties being imposed on Trump’s 1 August deadline for a deal, but it is a world apart from the zero-zero import and export tariff the EU offered initially.
It also means European exporters to the US will face more then triple the average 4.8% tariff now in force, with negotiations to continue on steel, which is still facing a 50% tariff, aviation, and a question mark over future barriers to pharmaceutical exports.
Merz hailed the deal, which was clinched in a ballroom at Trump’s golf resort in Scotland, saying it avoided “needless escalation in transatlantic trade relations” and averted a potentially damaging trade war.
Nothing about this “deal” prevents Trump from being Trump.
EU caved, and that’s a massive show of weakness.
donald: I am altering the deal. Pray I do not alter it any further
It’s not often that I agree with this man.
I urge my fellow Europeans to have our representatives reject this pathetic proposal.
As an American I also urge you guys to do that.
Germany, Italy, and Ireland are the countries exporting the most to the US. I imagine they are happy. That Ireland is the third, over France, must have something to do with their shameful fiscal paradise thing and tech companies, I guess.
Impose a tax to companies transferring money into foreign countries. Let’s say 4.8% to money transferred to the US. And then let the Tech oligarchs protecting trump feel the loss and then renegotiate.
EU caving to ridiculous US policy? Must be a day ending in y
I keep hearing this 15% tariff from EU to US. What’s EUs counter tariff to from US to EU. 15%? 10%? 0%? Wtf.
