The “framework trade deal” forged on July 27 by U.S. President Donald Trump and European Commission President Ursula von der Leyen was touted by both leaders as “the biggest deal ever made,” but it’s far from a done deal, with many details still to be ironed out, according to analysts.
To avoid Trump’s vow to increase tariffs to 30 percent on European imports on Aug. 1 from the 25 percent duty he imposed in April, von der Leyen accepted 15 percent tariffs and pledged that EU nations would purchase $750 million in oil, liquefied natural gas (LNG), and nuclear technologies over the next three years.
