"Latest Update: "Trump Closes Largest Trade Agreement Ever in U.S., Silencing Critics Once More"
President Donald J. Trump has secured a groundbreaking trade deal with the European Union, challenging economic orthodoxy and defying mainstream views on trade policies. The agreement, announced on a day that President Trump declared as 'Liberation Day', aims to address the lopsided trade deficit between the two economic powerhouses.
Under the terms of the deal, a 15% tariff ceiling has been established on most EU exports to the US, including autos and car parts. However, higher tariffs (around 50%) will remain on strategic sectors such as steel, aluminum, and copper. The EU has also committed to invest $600 billion in the US by 2029 and purchase $750 billion in US energy products over three years.
The deal also focuses on removing non-tariff barriers to ease market access, particularly benefiting small and medium-sized exporters. This novel approach to trade relationships departs from classical free trade concepts by using tariffs as a strategic tool without provoking retaliation and fostering economic growth simultaneously.
Critics, including economists, Democrats, and Never-Trumpers, had predicted economic doom and gloom regarding the trade deal. However, the success of the agreement has proven them wrong, as it addresses the trade deficit and fosters economic growth, stable inflation, and robust stock markets.
The deal's success is a testament to President Trump's unconventional economic policies, which have been met with resistance from economic orthodoxy. Despite this resistance, the President's tariffs have been used effectively as leverage, avoiding the expected economic damage and retaliation.
Miranda Devine, in a new op-ed, highlighted the success of the trade deal with the European Union, suggesting that the economic predictions about the deal were incorrect. It appears that many critics are unwilling to admit their mistakes regarding President Trump's economic policies.
The trade deal provides new market access for US products in the European Union, securing massive investments for the US economy. This deal, among the most consequential in history, signifies a redefinition of trade relationships based on strategic priorities and economic leverage rather than unconditional liberalization.
In summary, the key points of the deal are a 15% tariff ceiling on most EU exports, large EU investment and energy purchases in the US, reduction but retention of tariffs in key sectors, and measures to remove non-tariff barriers—all within a policy framework that departs from classical free trade concepts by using tariffs as a strategic tool without provoking retaliation and fostering economic growth simultaneously.
- This trade deal between the European Union and the United States, a significant policy shift in trade relationships, has proven many critics wrong, particularly economists, Democrats, and Never-Trumpers, who had predicted economic doom and gloom.
- The deal's success, as highlighted by Miranda Devine in a new op-ed, suggests that the economic predictions about the agreement, based on classical free trade concepts, were incorrect and that the President's unconventional economic policies, which depart from this orthodoxy, are effective in fostering economic growth.
