The deal includes $600bn (£446bn) of EU investments in the US, and the bloc will buy $750bn (£558bn) of US energy and also purchase American military equipment.

Mr Trump said: “I think it’s great that we made a deal today instead of playing games and maybe not making a deal at all.”

He said: “We are agreeing that the tariff… for automobiles and everything else will be a straight across tariff of 15%.” However, the 15% baseline rate would not apply to steel and aluminium, for which a 50% tariff would stay in place.

  • forrgott@lemmy.sdf.org
    link
    fedilink
    English
    arrow-up
    13
    arrow-down
    1
    ·
    14 days ago

    Well, I guess it was inevitable, but now the media is apparently spreading President Tiny Dick’s lies about how tariffs work. And as prices go up, somehow that’ll be Obama’s fault. 🙄

  • Hotznplotzn@lemmy.sdf.org
    link
    fedilink
    English
    arrow-up
    10
    ·
    14 days ago

    The deal includes $600bn (£446bn) of EU investments in the US …

    Trump made a similar deal with Japan, but this raises eyebrows among economists and analysts. Because neither Japan nor the EU will invest, but rather private companies there are expected to do so. It is to be seen whether they really do it.

  • tankfox@midwest.social
    link
    fedilink
    English
    arrow-up
    5
    ·
    14 days ago

    Europe does not pay the tariff. America pays extra money for things that come from Europe and Trump keeps the money.