The newly announced EU-US trade agreement has drawn sharp criticism from European leaders, with French Prime Minister Francois Bayrou calling it a "somber day" for Europe. While US President Donald Trump hailed the deal as "the biggest ever," concerns about its fairness and long-term impact continue to ripple across the continent.
French Minister for Europe Benjamin Haddad acknowledged the agreement provides temporary stability but criticized its "unbalanced" terms. The deal imposes 15% US tariffs on key European exports including automobiles, semiconductors, and pharmaceuticals – sectors critical to Germany and Ireland’s economies.
Hungarian Prime Minister Viktor Orban delivered the most scathing assessment, claiming "Donald Trump ate Ursula von der Leyen for breakfast" during negotiations. His remarks referenced the EU Commission President’s concessions, including a commitment to purchase $750 billion in US energy products and $600 billion in additional investments.
While von der Leyen defended the agreement as "the best we could get" after "tough negotiations," analysts question whether it addresses structural trade disputes. The deal averts threatened 30% US tariffs on EU exports set for August 1 but leaves unresolved tensions over agricultural subsidies and digital taxes.
Market watchers note the agreement could reshape transatlantic supply chains, particularly in green technology and advanced manufacturing. However, with European automakers facing new competitive pressures and Ireland’s pharmaceutical sector exposed to tariffs, the deal’s economic calculus remains hotly debated.
