Europe to import more US cars and energy with Ireland out in the cold | US | News
Brussels is preparing to meet an American car and energy by avoiding a last -minute trade agreement with Donald Trump and avoiding a transatlantic trade war.
The agreement, which is announced on Sunday, means that the European Union will now face a 15 percent tariff on exports to the United States – this provides a 30 percent previous threatened by the former President.
In contrast, Trump said the EU agrees to leave tariffs to US goods entirely in the block.
However, contrary to the relations of the EU’s prickly problems on Brexit, such as placing trade barriers in the Irish Sea, this time, the interests of Ireland seem to have been left behind the list of priorities for the block.
How important is Trump’s agreement with Europe and what offer?
Speaking from Turnberry Golf Resort in Scotland, Mr. Trump, who described the pact as the “the largest of all of them ,, followed his successful trade agreements with England and Japan. He made the announcement after meeting with the European Commission President Ursula von Der Luyen.
As a part of the agreement, the EU will import energy from the United States ($ 558 billion) from the US and invest 600 billion dollars in the world’s largest economy.
“We acknowledge that the tariff for direct cars will be 15 tariffs for cars,” he said.
“In fact, we have the opening of all European countries.
“It is clear that our companies go in and do a good job.”
Mr. Trump said that the agreement would provide better access to Europeans to US vans and SUVs, and the trade between the two economies is now ready to expand.
“Them [Europe] They will earn a lot of money with that. ” I think everyone is. And it will bring a lot of unity and friendship. “
Financial markets have been shaken by the changing trade policies of Mr. Trump in recent months and the tariff stand-off has created uncertainty for global investors and governments.
What does Trump hope to achieve with the European trade agreement?
The wider aim was to encourage global companies to move production to the United States to increase tax revenues and domestic affairs.
Ms. Von Der Leyen said that the aim of the agreement was to “re -balance” the trade flows between the two sides.
“The starting point was a imbalance, a surplus on us and a clear on the US side, and we wanted to balance it again,” he said.
“We wanted to do this between the two, in a way that continues the trade around the Atlantic.
“The largest economies should have good trade flow: re -balancing, but trade on both sides, which means good work on both sides of the Atlantic, which means welfare on both sides of the Atlantic. This was important to us.”
The agreement is except for steel and aluminum, which will still face 50 percent higher tariffs when exported to the USA. British exports of the same materials face a 25 percent tariff.
Bad for Ireland: Drug companies were excluded from the agreement
Mr. Trump also confirmed that drugs would not be included in the new agreement and that there will be no separate interviews for this sector.
This negligence may be a major blow to Ireland based on a major pharmaceutical exports.
“We have to do them in the United States, Tr Trump said. “We want them to be done in the US. Drugs are very special.
“We cannot be in a position we trust in other countries. Europe will do drugs, drugs and everything for us, but we will do ourselves.”
Claus Vistesen, a Pantheon macroeconomic, has warned that the accepted 15 percent tariff is less severe than feared and alarm financial markets are not likely to overcome both the EU and the US economies.
“Trump finds a medium ground, Mr Mr. Vistesen said. “Still hits itself. US consumers will pay higher prices and the growth in trade partners will be lower than otherwise.”
