The Price of Being Half a Superpower

What the EU–US trade deal reveals about Europe’s structural limits—and what’s at stake when form outpaces function.

U.S. President Donald Trump shakes hands with European Commission President Ursula von der Leyen in Turnberry, Scotland, on July 27, 2025. Brendan Smialowski/AFP/Getty Images

Commentary

In July 2025, the European Union signed a landmark trade agreement with the United States. U.S. President Donald Trump described it as “the biggest deal ever made.” On paper, it looked like a win-win. But in policy circles across Europe, it landed more like a warning shot than a celebration.