EU's Sefcovic on EU-US trade deal: EU exporters now benefit from a more competitive position. The work continues

EU's Sefcovic on EU-US trade deal: EU exporters now benefit from a more competitive position. The work continues

The European Union (EU) has expressed optimism following the recent trade agreement with the United States, with EU Commissioner for Trade, Valdis Dombrovskis, stating that EU exporters now benefit from a more competitive position. The agreement, reached under the administration of President Donald J. Trump, marks a significant shift in transatlantic trade relations [1].

Under the terms of the deal, the EU has agreed to pay a 15% tariff on almost all European imports into the United States, a figure that is half of the initially threatened 30% tariff. This reduction has provided some relief to European businesses, who had been facing uncertainty regarding trade practices [2]. The agreement also includes provisions for massive EU investments in the United States, totaling $600 billion, and significant purchases of U.S. energy exports, amounting to $750 billion by 2028 [1].

The deal has been met with mixed reactions. While European Commission President Ursula von der Leyen has praised the agreement for creating more predictability for businesses, some analysts argue that it represents a setback in the long-term efforts to lower transatlantic trade barriers [2]. The agreement has been criticized for reversing decades of progress in lowering tariffs and deepening economic ties between the EU and the United States, a trend that began post-World War II with the General Agreement on Tariffs and Trade (GATT) [2].

Despite the criticism, the EU remains committed to the agreement and the benefits it brings to European exporters. Dombrovskis emphasized that the work continues, indicating that the EU will continue to address any remaining concerns and work towards further trade liberalization [2]. The agreement is seen as a step forward in the ongoing efforts to strengthen transatlantic economic ties and address longstanding trade imbalances.

References:
[1] https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-the-united-states-and-european-union-reach-massive-trade-deal/
[2] https://www.bloomberg.com/news/articles/2025-08-01/trump-s-eu-us-trade-deal-could-cost-europe-for-years-to-come