A Spanish economist from Barcelona University is sounding the alarm: the EU's latest trade deal with the United States might be more trouble than triumph. Under the new deal, the U.S. will apply a baseline 15% tariff on EU goods—down from a steep 30%—but experts say that this small reduction doesn\"t cushion the overall impact.
Sergi Basco, an associate professor of Economics, warns that Germany, the EU\"s largest exporter to the United States, could face significant setbacks, particularly in its automotive industry. Since many German vehicles rely on components made in Spain, both regions may see a downturn in auto sales 🚗😬.
Basco criticizes European leaders for a weak negotiation stance, noting that a unified voice might have secured better terms. He also reminded everyone that this trade deal is just a "framework"—a non-binding agreement subject to further negotiations among all 27 EU members.
As the ambassadors meet to discuss the next steps, this development leaves many wondering: has Europe truly secured a win, or is it bracing for future challenges in the global market? Stay tuned as this trade saga continues to unfold! ✨
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Spanish economist says EU gains little from new tariff deal with U.S.
cgtn.com
