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Al Jazeera

EU-U.S. trade deal brings relief but leaves Europe bitter

Al Jazeera · New
Al Jazeera
Al Jazeera
New

European financial markets breathed a sigh of relief as the US and EU averted a full-blown trade war, though European leaders criticised the lopsided deal. While German automakers secured a reduction in car tariffs from 25% to 15%, the agreement imposes painful new tariffs on other sectors.

Breakdown
  • A trade war between the U.S. and EU was averted with a new agreement.
  • The deal imposes a 15% tariff on European goods, lower than the 30% previously threatened. 29s
  • Germany secured a reduction in tariffs on cars exported to the U.S. 39s
  • The EU committed to large purchases and investments in the U.S., sparking criticism from France. 55s
  • Uncertainty remains over tariffs on pharmaceuticals and other products. 1m 54s
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