Mixed Reactions Surround EU, US Trade Deal
(MENAFN) The European Union and the United States have revealed the specifics of their trade agreement framework, as stated in a joint declaration published on Thursday.
While the United States has welcomed the pact, several EU officials have expressed concerns that the deal is skewed in favor of Washington.
The arrangement imposes a 15% tariff on the majority of European exports heading to the US.
In return, Brussels has consented to remove tariffs on American industrial products and offer preferred market entry for a broad selection of seafood and agricultural items.
Moreover, the EU has committed to purchasing $750 billion worth of US energy and to investing $600 billion in the US over the forthcoming three years.
US Commerce Secretary Howard Lutnick, reflecting on the agreement's completion, posted on X that “The America First Trade Agenda has secured the most important trading partner, creating a major win for American workers, industries, and our national security.”
The official further emphasized, “Tariffs should be one of America’s favorite words,” describing the accord as “reciprocal, fair, and balanced.”
From the EU side, Trade Commissioner Maros Sefcovic noted that the agreement, achieved “after intensive, constructive engagement,” represents “a strong first step delivering stability, predictability, and opportunity.”
He also mentioned in a post on X that “Relief is coming to many sectors, including the car industry.”
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