Four-page joint statement clarifies the trade deal struck by Donald Trump and Ursula von der Leyen last month.
Posted by MrStrange15
Four-page joint statement clarifies the trade deal struck by Donald Trump and Ursula von der Leyen last month.
Posted by MrStrange15
4 Comments
Full statement:
https://policy.trade.ec.europa.eu/news/joint-statement-united-states-european-union-framework-agreement-reciprocal-fair-and-balanced-trade-2025-08-21_en
> You will pay more for the medicines you need.
> The art of the deal.
Tariffs on medicine in an already unregulated, inelastic market where prices go only up is just cruel at this point
Honestly, reading the statement, it seems pretty clear that this is the best possible deal the EU could get with an adversary that rejects mainstream economic theory. Don’t get me wrong, its still a shit deal, both for the EU and the US. But half of it are things the Commission was planning on doing anyway.
I think a lot of people are forgetting that the alternative was a trade war with a government that sees no negative effects of tariffs. In fact, they see them as beneficial.
Could the EU have engaged in a costly trade war? Yes, and maybe the markets would have spooked Trump again. Maybe. Or maybe America would have doubled down.