Does Trump’s handshake deal with the EU put America first?
What’s really at stake in these trade deals? That is what we are slowly discovering as Donald Trump’s handshakes with America’s trading partners are turned into specific and detailed agreements. Today we are getting the details of one of the biggest deals struck so far: a trade agreement with the famously protectionist European Union, which agreed in principle to a deal back in July, with the caveat on both the US and EU side that taxes on key sectors were still up for discussion. Those discussions, it seems, have produced some details. Despite early threats that America would impose tariffs of 250 percent and 100 percent on EU imports of pharmaceuticals and semiconductors respectively, the headline duties for both have been reduced to 15 percent.
