François Bayrou said the EU had bowed to President Trump’s increasing tariff pressure.
New Delhi: France has criticized Sunday’s, July 28 trade deal between US President Donald Trump and European Union (EU) President Ursula von der Leyen. French Prime Minister François Bayrou called it a dark day for the EU.
What did France say over US-EU trade deal?
François Bayrou said the EU had bowed to President Trump’s increasing tariff pressure. He wrote on X: “It is sad when a coalition of independent countries, formed to protect their common values and interests, buckles under pressure.”
At the same time, French Minister of European Affairs Benjamin Haddad said that this situation is not good and the EU should take countermeasures. French Trade Minister Laurent Saint-Martin said, “Trump only understands the language of power. If we should have taken countermeasures earlier, the deal might have been better.”
However, French President Emmanuel Macron has remained silent on the matter.
What is the response of Italy and Germany?
German Chancellor Friedrich Mertz and Italian Prime Minister Giorgia Meloni welcomed the agreement. European Trade Commissioner Maros Sefcovic called it a “big step” as it averted a trade war between the USA and Europe.
Under the agreement, most goods going from Europe to the US will face a 15% tariff, three times the current 4.8%. However, the 30% tariff was avoided after Trump’s threat of August 1.
How much of Europe’s goods will face 15% tariff?
According to the details of the agreement, 70% of goods from Europe will be subject to 15% tariff. This includes cars, medicines and electronics. However, some agricultural products such as aircraft parts, some chemicals, semiconductor equipment and cork will not be subject to tariffs. There will be no tariff on drugs yet, and if there is one in the future, it will not be more than 15%.
The EU will buy energy worth 750 billion dollars or about 64 lakh crore rupees from America in the next three years. Along with this, the EU will invest 600 billion dollars i.e. 51 lakh crore rupees in America.