The EU and the US have set out the details of their framework trade deal, according to a joint statement released Thursday. While Washington has praised the agreement, a number of EU leaders have criticised it as unbalanced.
The deal includes a 15% tariff on most EU exports to the US. Brussels has agreed to eliminate tariffs on American industrial goods and provide preferential market access for a wide range of seafood and agricultural goods.
Additionally, the EU has agreed to purchase $750 billion in US energy and invest $600 billion in the US over the next three years.
“The America First Trade Agenda has secured the most important trading partner, creating a major win for American workers, industries, and our national security,” US Commerce Secretary Howard Lutnick said in a post on X, commenting on the conclusion of the accord.
”Tariffs should be one of America’s favorite words,” the official added, describing the deal as “reciprocal, fair, and balanced.”
According to EU Trade Commissioner Maros Sefcovic, the deal, reached “after intensive, constructive engagement,” is “a strong first step delivering stability, predictability, and opportunity.”
“Relief is coming to many sectors, including the car industry,” he said in a post on X.
US President Donald Trump and European Commission President Ursula von der Leyen finalized the wide-ranging trade agreement in July, concluding months of intense negotiations between Washington and Brussels.
The agreement has drawn fierce backlash from several current and former European officials, who argue it disproportionately favors Washington. Former EU foreign policy chief Josep Borrell said the deal undermines the bloc’s strategic autonomy, noting the contradiction in financializing Europe’s defense industry while committing to major US weapons purchases. He also questioned the practicality of importing vast quantities of American gas.
French President Emmanuel Macron also voiced frustration over the agreement, while Marine Le Pen called the deal a “fiasco.” Hungarian Prime Minister Viktor Orban went further, accusing von der Leyen of overstepping her authority and claiming that “Trump ate her for breakfast.”
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