The deal includes $600bn (£446bn) of EU investments in the US, and the bloc will buy $750bn (£558bn) of US energy and also purchase American military equipment.
Mr Trump said: “I think it’s great that we made a deal today instead of playing games and maybe not making a deal at all.”
He said: “We are agreeing that the tariff… for automobiles and everything else will be a straight across tariff of 15%.” However, the 15% baseline rate would not apply to steel and aluminium, for which a 50% tariff would stay in place.
Pretending like the EU is working for the interests of EU members: What exactly is the argument for giving them 500 milliard euro in aid, and agreeing to buy their inferior products for super critical uses? How big were the tariffs they were threatening without those outrageous gifts? How can von der Leyen and co. expect us to believe they could go any higher and still afford to buy any European products?
China is selling higher quality energy equipment for a fraction of the price, and Russia is selling competitive military equipment for a fraction of the price. Not to mention the inherit security risk of buying foreign military equipment to begin with.