The diplomatic meeting between European Commissioner Ursula von der Leyen and US President Donald Trump marked another attempt to reach a trade agreement, which turns out to be far more complex than it seems at first glance.
The officially announced deal provides for the introduction of 15% tariffs on a large part of European exports to the United States, which represents a significant relief compared to the initially threatened 30% tariffs. Nevertheless, European leaders receive the news with caution and some disappointment.
German Finance Minister Lars Klingbeil candidly admits: "I would have liked a different result, but it is still good that we have an agreement that prevents further escalation."
A key point in the negotiations are the substantial differences between the American and European versions of the agreement. While Washington claims that the EU will "buy" energy products worth $750 billion, the European side uses the more cautious wording that it "intends" to do so.
The most affected by the new trade conditions will be countries like Germany, Ireland, and Italy. For the German automotive industry, which exports products worth 34 billion euros to the US, the new tariffs will mean significant additional costs.
Ireland, which relies heavily on pharmaceutical exports to the US worth $50 billion annually, accepts the agreement reservedly. Representatives of the Irish government comment laconically: "Such is the situation, we move forward".
Italian economic analysts predict that the new trade restrictions could cause a contraction of gross domestic product by 0.2 percent. Representatives of agricultural unions define the deal more as a "surrender" than an equal agreement.
Experts from the Center for European Policy Studies emphasize that such trade arrangements usually take between 18 and 24 months of negotiations. The current agreement is viewed more as an initial framework than a final document.
French President Emmanuel Macron is categorical: "This is not the end of negotiations, but only a first step in a lengthy process." He insists that Europe take a firmer position in future trade relations.
Among the most controversial points remain the tariffs on steel and aluminum, which according to the American side will remain at 50 percent, while Europeans insist on their gradual reduction.
A key point is also the lack of clarity around military supplies. The US claims that the EU has agreed to purchase significant quantities of defense equipment, but there is no confirmation of this in European documents.
Analysts warn that attempts to compensate for losses through European subsidies would mean a de facto victory for American trade policy, with European taxpayers ultimately bearing the burden of the new tariffs.
Despite official communication, intensive negotiations continue behind the scenes. The European Commission's Trade Representative Olof Gil emphasizes that further clarification of many details is pending.
In conclusion, the new trade deal between the US and EU remains more than uncertain - with numerous unresolved parameters, potential economic risks, and the need for additional negotiations.