Statement by President von der Leyen on the deal on tariffs and trade with the United States | Metals Mine

  • Statement by President von der Leyen on the deal on tariffs and trade with the United States

    From ec.europa.eu

    We have reached a deal on tariffs and trade with the US. Today's deal creates certainty in uncertain times. It delivers stability and predictability, for citizens and businesses on both sides of the Atlantic. This is a deal between the two largest economies in the world. We trade USD 1.7 trillion per year. Together we are a market of 800 million people. And we are nearly 44% of global GDP. Just a few weeks after the NATO summit, this is the second building block, reaffirming the transatlantic partnership. Allow me to go into some details. We have stabilised on a single 15% tariff rate for the vast majority of EU ... (full story)

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Subdude
Jul 27, 2025 5:46pm
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Non-news. Russian oil products have been largely replaced by US and other imports already.
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battlebutt
Jul 27, 2025 4:50pm — Edited
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I naively thought some negotiation was supposed to be happening—not unconditional capitulation to an utterly desperate US!
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dsrathi
Jul 27, 2025 11:58pm
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Think of the combined consumer base of 1.2+ billion people.
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Trader#63FA
Jul 28, 2025 4:11am
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Quoting battlebutt
I naively thought some negotiation was supposed to be happening—not unconditional capitulation to an utterly desperate US!
It's not capitulation. It was known from 2-3 months ago, via EU officials statements, that the EU will not bother much with the US requests and they will pursue a basic deal. If that wouldn't have worked then restrictive mechanisms would've been deployed against US businesses.

The last ECB meeting confirmed that they are no longer concerned with inflation and the interest rate is at where it should be. Current focus of EU is on fueling the economies for future growth.

The US tariffs where a stick in the EU's economic wheels so they sought to just give the US some nicely packaged numbers that Trump can show the people and be proud of the greatness he achieved, and EU can move on with more important stuff.

Now this deal at least offers everyone a known number on the tariff - 15%. This was the important bit that clarifies the path forward.

Extra parts of the deal:
-No EU tariffs on a bunch of US products (most are not to the liking of Europeans thus it can be free market - supply/demand will take it's course)

-EU to invest 600 Bln USD - already on the table prior to Trump (but it was packaged the same way as with Apple, Facebook, Microsoft, TSM etc in March/April - meaning it was Trump's achievement)

-EU to buy 750 Bln USD worth of US LNG - in the books since a few years ago

-No mention and no touching EU VAT, Digital service tax and other non-tariff barriers(which Tump said THESE are the important ones) - TACO on these ones

-Unlike Trump's statements related to other countries deals "... and they will PAY us X%", now he said a nice "... and we will have a 15% customs tax on EU products"

Doesn't look like much of a capitulation. Basic package just to get rid of the uncertainty so the EU can move further with economic growth plans.
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Trader#5B7A
Jul 28, 2025 12:14am
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price increase on goods and services imported from JPY, EU and rest of the world in US. at least 10% increase in inflation. fed will have to increase rates if not keep the same.
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Trader#3834
Jul 28, 2025 3:44am
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there is no deal yet, she cannot sign anything they just bought more time
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