Trump's trade deal with EU
Digest more
Economists and observers have been quick to highlight discrepancies between the White House and the European Commission’s version of events.
Leaders from Europe's two largest economies have led a chorus of gloomy reactions to the trade deal struck between EU chief Ursula von der Leyen and US President Donald Trump.
Shipping shares Moller-Maersk and Hapag-Lloyd fell after the European Union said its trade agreement with the US would chop in half the proposed 30% blanket tariffs to 15% on most products.
Pact removes a major risk for markets and the global economy, given the transatlantic partners did $2 trillion worth of cross-border commerce in 2024.
European Commission President Ursula von der Leyen said Sunday that a framework deal imposing 15% tariffs on EU goods imported to the U.S. did not contain any decision regarding the wine and spirits industry, adding that an agreement for the sector would be examined in the coming weeks.