The EU and the US reach a trade agreement sparks controversy

Medvedev: The trade agreement between the EU and the US is a shameful one

Vice Chairman of the Russian Federation Security Council Dmitry Medvedev commented today on the trade agreement between the US and the EU.

Medvedev believes that the agreement reached by Washington and Brussels will impose huge costs on the industry and agriculture of EU countries.

"The new agreement removes protection for the European market, eliminates tariffs on American goods, and thus benefits only the US. This is a great shame for Europeans."

After meeting with European Commission President Ursula von der Leyen in Scotland, US President Donald Trump and the EU jointly announced the agreement. The agreement stipulates that the basic tariff rate imposed by the US on European markets will be 15%. In the next three years, EU countries will invest 60 billion US dollars in the US and purchase 75 billion US dollars worth of energy from the US, abandoning energy purchases from Russia.

Medvedev believes that the refusal of EU countries to purchase energy from Russia indicates that "the EU leadership has a new Nazi ideology that undermines the well-being of its own citizens, and the agreement they have reached with the US is clearly anti-Russian in nature."

According to predictions by one of Germany's largest research institutes, the Kiel Institute for the World Economy, Germany will be most affected by this agreement. Germany is the leader in EU car exports, and according to the agreement with the US, EU cars will be subject to a 15% tariff. Economists speculate that due to this agreement, the decline in German car production may reach 15%.

Original article: https://www.toutiao.com/article/1838881811602570/

Statement: This article represents the views of the author.