New EU-US trade deal

The EU agreed on a new trade deal with the US, announced US President Donald Trump and European Commission President Ursula von der Leyen. The deal imposes a 15% tariff on imports of goods from the EU to the US, including cars. Before Trump, EU cars were subject to a 2.5% tariff, and the general rate stood at around 5%. “15% is the best we could achieve,” said von der Leyen. So far, neither side has disclosed what rate US exporters will pay in the EU. Tariffs on steel and aluminum imports will remain at 50%. The deal excludes medicines. Under the agreement, the EU committed to purchase $750bn worth of US energy and invest $600bn in US weapons.

PM Robert Fico described the 15% tariffs as a good result and praised Maroš Šefčovič, who negotiated the deal. Germany also welcomed it.

The US tariffs will contribute to higher US inflation, but will not halt global trade, writes the Wall Street Journal. Higher tariffs will be difficult for many EU companies to absorb, but the agreement eases concerns over deteriorating transatlantic relations.

(forbes.sk, aktuality.sk, hnonline.sk, dennikN.sk)