Euro struggles
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Economists and observers have been quick to highlight discrepancies between the White House and the European Commission’s version of events.
FRANKFURT, Germany (AP) — The European Union’s trade agreement with the Trump administration is getting mixed reviews. EU officials say they warded off a total economic disaster. But French officials in particular say the EU punched below its weight while economists say the deal is dangerously vague.
President Trump met with top European officials demanding fairer trade with the 27-member European Union at his golf course on the Scottish coast.
German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.
U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal. It raises tariffs on most European goods to 15%.
Pact removes a major risk for markets and the global economy, given the transatlantic partners did $2 trillion worth of cross-border commerce in 2024.
Wall Street is coming off a winning week fueled by strong earnings and recent deals between the U.S. and its trading partners.
The United States and European Union clinched a trade agreement on Sunday that will see EU exports taxed at 15 percent, in a bid to resolve a transatlantic tariff stand-off that threatened to explode into a full-blown trade war.