"This is not the end, it is the beginning." By his own admission, Maros Sefcovic, the European commissioner for trade, knew his challenges were far from over. After a summer spent "working very hard," he presented on Thursday, August 21, the long-awaited joint statement between the United States and the European Union on the 15% tariffs to be applied to European goods, with no reciprocity.

This statement was intended to clarify the political agreement reached by US President Donald Trump and European Commission President Ursula von der Leyen on July 27. The deal has drawn widespread criticism, especially in France, where Prime Minister François Bayrou called it a "submission" to the US.

In Brussels, however, officials described it as a sign of renewed "predictability and stability." "The alternative?" Sefcovic asked at a Thursday press conference in Brussels. "A trade war with sky-high tariffs and political escalation [that] helps no one. It hurts jobs." The European Commission insisted it had held firm, arguing that US demands for revisions to EU regulations, mainly in the digital sector, had been firmly rejected. Nevertheless, both parties agreed to work together on "non-tariff barriers," particularly standards that hinder trade in sectors such as dairy or pork.

You have 76.22% of this article left to read. The rest is for subscribers only.