EU, Trump and Trade Deal
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Balancing economic interests and security concerns, European officials said they got the best deal possible with President Donald Trump, but critics said Brussels ceded to pressure.
As Trump eyes an Aug. 1 deadline for countries to come to trade deals or face the tariffs that he originally announced in April, he has touted the agreements he has made in recent days — while maintaining that it would be difficult to meet with all world leaders.
U.S. agreement, secured by President Donald Trump in Scotland, imposes a 15% tariff on most European goods but does not outline a tariff for the wine and spirits industry.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.