Both Trump and Von der Leyen can paint this as something of a victorypublished at 19:12 British Summer Time
Jonathan Josephs
Business reporter
After weeks of tense negotiations between their top trade
officials, the EU and US have finally struck a deal.
Ultimately it has taken their leaders to sit down face to
face to get an agreement.
That’s something we’ve also seen with the other deals that
President Trump has struck, his personal involvement is what has got them over
the line – even when it looked like a deal might not happen.
That it has matters to both sides because so many businesses
and jobs depend on what the EU calls “the world’s largest bilateral trade and
investment relationship”.
Both President Trump and European Commission President
Ursula von der Leyen can paint this as something of a victory.
For the EU, the tariffs could have been worse at 15%, rather
than the 30% that had been threatened – although it’s not as good as the UK’s
10% rate.
For the US that equates to the expectation of roughly $90bn
of tariff money coming into government coffers – based on last year’s trade
figures, plus there’s $600bn of investment now due to come into the country.