He agreement signed this Sunday between USA and the European Union It has not been received a great degree among many of the European partners and has caused a series of criticism and controversies for how it will affect the economies of the euro zone.
With him he was looking for Avoid an escalation towards a commercial war between the US and Europe, in addition to reducing commercial uncertainty giving stability and predictability to companies operating in both regions, but political reactions in countries such as Spain either Franceor even in the same European ParliamentThey leave all this in the air.
In Spain we have heard the president of the Government, Pedro Sánchezrecognize that the agreement supports but “Without any enthusiasm”; Already the leader of Add, Lara Hernándezdefine the agreement as A “surrender” of the European Union against Trump.
In other countries such as Franceit has been the opposition that has come to criticize the agreement to criticize it as a “Vasalaje Agreement” and “A shame”terms similar to those used by the political groups of the European Parliament, which have described it as “delirious” and a “Hard blow to European industrial competitiveness”.
Little time has passed and they have not yet entered into force, but this agreement has already caused the first reactions in the markets, where we have seen how The euro fell on Monday below $ 1.17. And it is that Trump’s tariff policy has been weakening the dollar in recent months, but investors seem to have understood the agreement as a sign that the risk has decreased for the United States.
But, What exactly has the European Union agreed with the United States?
The general tariff
This is the main point of the agreement and the one that is generating the most controversy. As agreed, The United States will impose a 15% tariff to the vast majority of European Union exportswhich will apply to sectors such as motoringthe semiconductors and the pharmacist.
It will enter into force from next Friday, August 1, and will affect 70% of the EU that the EU has with the United States. This tariff It is an important reduction compared to 30% that Trump had initially threatened Brussels.
As known, they stay Tariff free Strategic products that include “aircraft and their components, certain chemicals, certain generic, semiconductor equipment, certain agricultural products, natural resources and critical raw materials.”
Among the agricultural products That they would be left with a zero tariff, some such as nuts, lobsters, processed and raw fish, cheeses, other dairy products and pet foods have been mentioned.
Steel and aluminum
There will also be modifications to what steel and al aluminum It refers, that before the agreement they were subject to a 50%tariff. It has not yet been specified how the details will be for these products, but both blocks have agreed a different mechanism consisting of a quota system instead of additional increases.
Community sources have explained that the idea is that steel imports covered by the quota have the most favored nation tariff and that exceeding that level is applied a 50%tax.
This point of the agreement will take a few more weeks to apply since The details are still in the negotiation phase.
Investments, Energy and Ia
The European Union also undertakes to invest 750,000 million dollars From here at the end of Trump’s mandate (2029) in the Purchase of American energy (gas, oil and nuclear). This investment will be made through private companies.
Von der Leyen also stressed that American artificial intelligence chips They will promote the development of AI in the EU and have committed them to be carried out private investments in the United States by value of 600,000 million dollars.
