On the menu today: At his golf resort in Turnberry, Scotland, President Trump announced a big trade deal with the European Union — but as with his other announced trade deals, some important details are still not laid out. Although the EU’s tariffs on American cars will be coming down, you probably won’t see lots of American cars on the streets of Munich or any other European city, for basic logistical reasons. Meanwhile, President Trump and House Speaker Mike Johnson don’t want to rule anything out when it comes to the topic of a potential pardon or deal for the notorious Ghislaine Maxwell.
Trump to Europe: We’ve Got a Deal! Details TBD
As far as second-term Trump administration trade deals go, this is a big one. When you add up U.S. trade with all the European Union’s 27 member states, they’re America’s biggest trading partner, and the clock was ticking closer to the August 1 deadline that would have imposed 30 percent tariffs on all EU goods, which would have severely reduced European exports to American consumers.
For free traders, it’s not great, but it does at least provide some stability, assuming the president doesn’t change ...
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