- France opposes the EU-US agreement, calling it an act of capitulation.
- The agreement provides for a 15% tariff on most goods from the EU, avoiding higher tariffs.
- Other EU countries, such as Germany and Spain, have accepted the compromise as necessary.
- The details of the agreement are to be finalised by 1 August and still raise doubts.
Divisions in Europe after announcement of new deal with Washington
The new framework trade agreement between the European Union and the United States has drawn sharp criticism from France. Prime Minister François Bayrou called it an “act of capitulation” and a “dark day for Europe”, objecting to the provisions providing for a 15 per cent tariff on most EU exports to the US.
While Paris firmly rejects the compromise, other capitals, including Berlin and Madrid, have hailed it as a non-ideal but necessary solution. According to the European Commission, the agreement avoided a major escalation and much higher tariffs, reaching the previously announced 30%.
Agreement still unfinished
The agreement is provisional, with details on sectors, investments and energy commitments to be worked out by 1 August. Some member states are waiting for more clarity before expressing full support.
Markets reacted optimistically, with European stock indices rising, although many business representatives assessed that the final balance for European exports would depend on the implementation and enforcement conditions of the new agreement.
