Trump’s week in review: EU trade deal, Smithsonian content probe, mail-in ballots, 55 million visas
New trade deal with the European Union
The Trump administration announced Thursday that it secured a new trade deal with the European Union, called a "Framework on an Agreement on Reciprocal, Fair, and Balanced Trade."
As part of the agreement, all tariffs on industrial goods imported from the U.S. will be removed, and preferential market access to U.S. seafood and agricultural products will be expanded.
Additionally, most EU exports will be taxed at 15%, while EU members agreed to ensure that their companies invest $600 billion in the U.S. and buy at least $750 billion in U.S. energy over the next three years.
"This Framework Agreement will put our trade and investment relationship — one of the largest in the world — on a solid footing and will reinvigorate our economies' reindustrialization," the White House stated.
"It reflects acknowledgement by the European Union of the concerns of the United States and our joint determination to resolve our trade imbalances and unleash the full potential of our combined economic power."
