And then you have the EU invest $600 billion in the United States instead of the European Union. I hope EU hasn't also accepted lowering food quality down to US standards...
If goods are brought into the US, with tolls paid, and then sold for much more than the assessed value, the goods will probably be seized.
This agreement is certainly exactly as bad as it looks. No one has historically entered into an agreement like this. Not Sweden when it was a tiny country not part of the EU, no country whatsoever.
When a country has been had its goods tariffed the response has always been to counter those tariffs with tariffs on goods with an equal value, so this agreement is completely exceptional.
The real news is these investments/purchases and that’s what my comment was about. No other country is investing in the US outside of mining. But to make face you’ll agree and setup a paper mill for manufacturing, as for power/natural resources, buy back through your own entities. Look up the news about foreign mining, they’re up in arms, but that’s exactly what they voted for.
These investments and purchases look bad, and are bad, but the really bad things is the non-reciprocal tariff, which makes it impossible to invest in EU production that can scale.
Sad day anyway. France was apparently amongst the sole country which wanted to use the tools specifically put in place to retaliate against tariffs but as usual the German got their way and we end up with a deal which serve only them.
The Union is as good as dead as far as I’m concerned and the terrible thing is that it was probably Trump true goal.
What was the retaliation France wanted?
Anyway, as long as the PPE will be in charge and the comission is staffed with German rejects, the Union will go nowhere. European only have what they deserved. I'm just sad my country is dragged down with the sinking ship.