Global News

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[Opinion] The EU has validated Trump’s bullying trade agenda (www.ft.com)

submitted 2 days ago by schizoidman@lemmy.zip to c/globalnews@lemmy.zip

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[–] Voroxpete@sh.itjust.works 2 points 2 days ago

While I whole heartedly agree that any amount of concession to Trump is validating his strategy to some degree, I do also want to stress to the people only learning about this through headlines just how incredibly weak this deal is. Aside from a mutual lowering of tariffs, the EU supposedly agreed to ~$600bn in investments in the US. But that figure is bullshit. All of the investment is coming from private enterprise. The EU just asked those sectors what they were already planning to invest and then put that number in the deal. It's not new investment and the EU has zero control over whether or not it actually happens. And most of it won't, because Trump is making the US increasingly hostile to investors. So no actual concessions have been made here, aside from both sides agreeing to climb down on the tariffs a little.

BTW, the Japan deal is exactly the same.