Commerce Secretary Howard Lutnik unpacked the trade agreement between the US and the European Union on the ‘Special Report’.
Commerce Secretary Howard Lutnik postponed the “demon” trade deal of Trump administration with the European Union (EU) as a historic moment for American people.
The robbery joined the “Special Report” on Monday after the President Donald Trump And Ursula von Der Leyen, chairman of the European Union Commission, announced a deal before the tariff deadline in Scotland on August 1, threatening to increase the global trade.
“They first agreed to cut all their tariffs, cut off their obstacles and sell American businesses and farmers and rankers and fishermen in the European Union,” Lutnik said. “Large -scale market. It’s huge for America.”
Trump’s business deal with UK previews trade talks during the 16th week in office in office
European Commission Chairman Ursula von Der Leyen met US President Donald Trump at Turnberry, Scotland on July 27, 2025 at Trump Turnberry Golf Club. (Andrew Harnik / Getty Image / Getty Images)
The White House stated that the European Union would pay 15% tariffs, including auto, auto parts, pharmaceuticals and semiconductors, as well as 50% tariffs on steel, aluminum and copper.
It will also be other than other things, Invest around $ 600 billion One step aimed at the purchase of US energy exports in the United States in the next three years and $ 750 billion through 2028, reducing Europe’s dependence on Russian energy.
“President Trump’s agreement with the European Union acquires historical structural reforms and strategic commitments that will benefit national security for American industry, workers and generations,” Read a statement From the White House in the part.
The Trump administration announced a trade agreement with the European Union on Sunday, July 27, 2025. ,
European Union’s Trade Commissioner Maros Sefkovic defended the trade deal between the criticism of French Trade Minister Laurent St.-Martin and French Prime Minister François Bayoro, who suggested the two that it was unbalanced.
Trump’s hard policies push the European Union to expand trade and defense
“This is clearly the best deal that we can get in very difficult situations,” Safekovic told a press conference Monday in Brussels.
He said that he has assured that the deal saves trade, trade flows and jobs in Europe and “New chapter (on) opens (on) in European Union-US relations (on) how to adjust our mutual trading patterns in this new era of Geconomics and Geopolitics.”
European Commissioner Maros Safkovic appears during a press conference at the end of the European Foreign Affairs Council at Brussels, Belgium on 14 July 2025, for trade. (Jonathan RAA / Nurfoto Getty Image / Getty Image)
Lutnik told Brett Bair, the main political anchor of Fox News, that the deal is beneficial for both the US and the European Union as the two can increase their businesses simultaneously.
“Finally, we have corrected the wrong of business and Donald Trump led the route,” said Lutnik.
The Commerce Secretary suggested that more deals may end before Friday but explained that Trump can also be done. Just set tariff rates For other countries.
“By the end of this week, they will all set. They will all be in stones, and they will be written, and we will start collecting those additional mons,” they told the “special report”. “Right now, we are collecting 10% from everyone in the world, and of course, a Higher rate from ChinaBut come next week, we go away. ,
The ‘The Big Money Show’ panel has analyzed the deadline of President Donald Trump’s tariff deal with the European Union and Mexico as countries have to face 30% tariffs.
The South China Morning Post reported that Beijing and Washington are expected to expand their tariff stagnation for another 90 days after trade talks in Stockholm.
