Trump's trade deal with EU
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Balancing economic interests and security concerns, European officials said they got the best deal possible with Trump, but critics said Brussels ceded to pressure.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
France's prime minister described it as a ''dark day'' for the European Union, a ''submission'' to U.S. tariff demands. Commentators said EU Commission chief Ursula von der Leyen's handshake with President Donald Trump amounted to capitulation.
Many pharmaceutical products made in Europe will face a 15 percent tariff, pinching manufacturers and potentially leading to higher drug prices.
Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”
April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.