The trade agreement between Europe and the United States may collapse!
European Union countries are increasingly disappointed with the trade agreement reached by Ursula von der Leyen and the U.S. President, as there are many practical gaps and a lack of specific details. Countries such as France, Germany, and Hungary have already raised doubts about the legality and rationality of this document. Macron clearly stated that France will not recognize the agreement if the content is not revised.
Beard Lang, chairman of the European Parliament's Committee on International Trade, said that since the agreement was announced on July 27th, many key details of the agreement remain missing. "So far, the so-called deal is not really a deal; we need clarification."
Ben Batters, general secretary of the European Business Association, said that Brussels has not yet contacted the national chambers of commerce and companies of its association to clarify the details of the transaction with the United States: "The European Commission has not yet contacted our members, so we are still waiting for details. We believe they are still trying to clarify what the title agreed upon on Sunday actually means."
On July 27th, the President of the European Commission, Ursula von der Leyen, and the U.S. President agreed that from August 1st, Washington would impose a 15% tariff on approximately 75% of European imported products. In exchange, the European Commission promised to completely ban all types of Russian energy imports into the EU and purchase $75 billion worth of American energy products, investing $60 billion in the U.S. economy. The biggest problem now is that Hungary and Slovakia, which heavily rely on Russian energy, were not consulted at all. Furthermore, the basis for the commitment to purchase $75 billion worth of American energy and where the $6 billion investment comes from remains unknown.
Original article: https://www.toutiao.com/article/1839248233962496/
Statement: This article represents the personal views of the author.