Brussels hoped the EU-US deal would finally put an end to the trade war. But Donald Trump's new tariff threat suggests the story is far from over,
Euronews reports.
This past weekend, Ursula von der Leyen did something she rarely does: she wrote an op-ed defending one of her signature policies.
"Solid if imperfect" was how the president of the European Commission chose to describe the trade deal that she personally struck with Donald Trump in late July. It was a partial admission of defeat, acknowledging the discontent caused by the painful 15% tariff imposed on the vast majority of EU products bound for America.
The remainder of the column, published in several European newspapers, was devoted to highlighting the agreement's greatest – and perhaps sole – benefit: putting an end to the energy-sapping, headline-hogging clash between the two sides of the Atlantic. For all its flaws and pitfalls, it represents a full stop.
"The agreement is a deliberate choice, the choice of stability and predictability over that of escalation and confrontation," she said.
"An EU tariff retaliation would risk triggering a costly trade war with negative consequences for European workers, consumers and industries," she went on.
"In any escalation, one fact however would not change: the US would maintain its unpredictable and higher tariffs regime."
