President Trump and President of the European Commission, Ursula von Valley Lynn, recently reached out to the business agreement that has been largely concluded. However, as described in the Financial article in detail, there are significant differences about the characteristics of the treaty. Summarys published by the White House and the European Commission show at least five divergences in their views.
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The White House has emphasized “historical structural reforms and strategic obligations”, while the European Commission, with further projected negotiations, sees the deal as “not legal”. Despite President Trump’s claim that the deal will be “ending” and does not require more debate for years, continuous negotiations are expected to work as both parties work toward the legal text. A formal joint statement about the deal this week is predicted.
One of the areas of agreement is the 15 % tariff imposition of almost all EU goods, including cars, semiconductors and drugs that will be exempt from separate Trump programs. However, a deeper examination shows more differences. The Minister of Commerce of Howard Lutnik confirmed the ongoing talks and stated that “there is still a lot of horse trade”, while “principles” have been set up.
On the new European investment in the United States, the United States summarizes $ 750 billion in energy and $ 600 billion in corporate investment. However, the European side uses less definite language, indicating “the intention of” providing “extra energy” and “expressing interest” in more investments. In addition, while Trump has claimed that European markets will be completely open, Europe’s summary shows that only “limited” “limited” “non -sensitive” agricultural products will be permitted.
Another controversial point is the US claim to be purchased by hundreds of billions of dollars, which is not mentioned in the European summary. As the trade talks continue, stakeholders are waiting for a comprehensive and coherent joint statement to clarify these disputes.
Source: Indexbox market information platform
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