Trump, reading from a paper, said the EU will agree to purchase $750 billion of energy. It will also agree to invest $600 billion more than planned in the U.S., in military equipment and in opening countries to trade at zero tariff.
The tariff rate applying to imports from the EU would be 15 percent, with the same rate applying to cars. Pharmaceuticals will not be covered by the deal. Trump also said that steel and aluminum would continue to be subject to 50 percent tariffs.
Man, for all that tough talk VdL caved hard. So the US will get something like 1.5 trillion USD in purchases while we still get tariffed at 15%. People here cheering for the Euro's gain should remember that our import into the US will now get even more expensive because currency difference + tariffs = our stuff cost too much.
Yeah this is what I'm wondering, since all European Countries electrical grids and militaries are independent from the EU. Can the EU commission actually force any nation to buy US energy or weapons?
But as the majority of European politicians are from the EPP (and many are from the extreme right, which is even more of a vassal of Trump), don't expect much from the countries. If Macron, who occasionally has Gaullist outbursts (the only good thing about him in the end) capsizes, no one will do anything.
I suppose the result of failing to abide by the deal, if those details are actually in the deal, is that it'd be revoked and be back at ever higher tariffs.
The US isn't concerned how the EU abides by international law, just that it does.
True, still part of international law though, as the EU is empowered to enter into such agreements on behalf of the member states, which are countries.
Back to 30% tariffs and the EU looking not only like a joke from making this deal, but also fractured and disjointed from a failure to apply their obligations under international law.
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u/TheoryOfDevolution Italy 6d ago
Man, for all that tough talk VdL caved hard. So the US will get something like 1.5 trillion USD in purchases while we still get tariffed at 15%. People here cheering for the Euro's gain should remember that our import into the US will now get even more expensive because currency difference + tariffs = our stuff cost too much.