Blocks commit to “a framework for transatlantic trade and investment that are fair, balanced and with mutual benefits”
The European Commission defended Thursday that it “reached the goal” with the trade agreement with the United States of America (USA) that gives “stability and predictability” and is the “most favorable scenario” that Washington has given the partner country.
“We reached the goal,” said Commissioner for Economic Trade and Security, Maroš šefčovič, about the US trade agreement that “carries a considerable weight” at a press conference in Brussels (Belgium), a city that welcomes major European Union (EU) institutions.
The Commissioner considered that the other option was “a trade war with stratospheric customs rights that would harm everyone.”
15% EU rates are “the most favorable scenario that the US has applied to a partner,” added Maroš šefčovič, considering that he will bring “stability and predictability” to companies and citizens of the European political-economic bloc.
According to the joint statement Brussels and Washington are committed to “a framework for trading and investment that are fair, balanced and mutual benefits.”
However, the agreement reached between the president of the European Commission, Ursula Von der Leyen, and US President Donald Trump, was the target of criticism within the EU. The main criticism is that the agreement is unfavorable to the European community bloc.
The joint statement says the agreement is “the first step in a process that will increase trade and improve market access in additional sectors.”
Customs of 15% customs are throughout the line, including “strategic sectors” such as the car, pharmacist, wood and semiconductors.
Some sectors will “benefit from a specific regime,” from September 1, including the sectors of natural resources, such as cork, all aircraft and parts for building and maintenance, generic pharmaceuticals and ingredients.
