US-EU Trade Deal Reached with 15% Tariffs, Mixed Reactions

Historic Trade Agreement Concluded

US President Donald Trump and European Commission President Ursula von der Leyen reached a trade agreement hours before the deadline, averting a potential transatlantic trade war. The deal establishes a 15% US tariff on most EU imports, with exceptions for critical products. Steel and aluminum tariffs remain at 50%.

Key Agreement Terms

The agreement includes:

• 15% baseline tariff on EU goods
• Auto industry tariffs reduced from 27.5% to 15%
• 50% tariffs maintained on steel and aluminum
• Exemptions for aircraft, chip equipment, farm machinery, and chemicals
• EU commits to purchase $750B in US energy

Reactions and Concerns

Dutch acting Prime Minister Schoof acknowledged the deal brings "clarity for businesses" but noted "no tariffs would have been better." German Chancellor Merz called it a "heavy blow" to the auto industry but acknowledged it prevented worse economic damage. ING economist Bert Colijn stated: "15% is better than 30%, but it's not great."

Business Impact

VNO-NCW employers' organization called the tariffs "particularly painful" but welcomed the end of uncertainty. Rabobank economist Lize Nauta noted specialized manufacturers haven't seen reduced demand yet. Von der Leyen pledged to expand the exemption list during implementation.