US-EU agreement resolving the tariffs conflict
US Commerce Secretary Howard Lutnick announced that next Friday will be the date for a final decision on new tariffs on foreign imports, a move that is part of a major economic plan scheduled to take effect on August 1.
In a remarkable development in transatlantic trade relations, the United States and the European Union reached a massive agreement that includes unprecedented European commitments, including: purchasing $750 billion worth of American energy, including natural gas, oil, and nuclear power; investing $600 billion directly in American companies; imposing 15% tariffs on most European products exported to the US market; Cars and pharmaceuticals are at the heart of the deal… and Trump sets the rules.
The auto and pharmaceutical sectors were at the heart of the negotiations, as former US President Donald Trump, who is returning with a strong economic influence, emphasized the need for domestic manufacturing as a prerequisite for entering the US market.
Trump said in provocative statements, “If you want to sell your products in America, you have to produce them in America”.
These statements come within the framework of an economic policy promoting the “America First” concept, as Washington seeks to reduce reliance on imports and attract foreign investment to the US.
