Photo: Screenshot from an online video

The US on Sunday announced that it had reached a trade agreement with the EU, which includes a 15 percent tariff on EU goods. BBC described the agreement as the result of "tough negotiations," even as some hailed it as a "huge deal." 

The agreement also includes terms unilaterally proposed by the Trump administration, under which the EU would increase investment in the US by $600 billion, including purchases of American military equipment, and commit $750 billion to energy spending, according to the report.

According to a video clip showed by the Florida's Voice, President of the European Commission Ursula von der Leyen told Trump during a press conference following the agreement that "You're known as a tough negotiator and dealmaker." Trump quickly interjected, "But fair," prompting von der Leyen to echo, "And fair." However, Trump immediately followed up with, "That's less important," which drew laughter from the room.

When asked by a reporter whether he could offer the EU better than the current 15 percent tariff rate, Trump confirmed, "Better meaning lower?" After the reporter replied "Yes," he immediately shot back, "No," while von der Leyen remained silent, a Fox News video shows. 

Von der Leyen's performance during the press conference prompted some users' scorn on social media platform X, where they said she appeared "under pressure." As videos showed her hands folded on her knees, the scene further fueled online reaction of her passive posture.

In another exchange, as she attempted to praise Trump's approach, he cut in to declare himself "fair" — then quickly added "but less," prompting an awkward nod from Von der Leyen. The moment was widely described by X users as "cringeworthy."

While the framework has been finalized, it has drawn criticism across the EU, with official and industry figures warning that tariff levels remain elevated and the agreement offers little cause for optimism. 

Finnish Minister for Foreign Trade and Development Ville Tavio said on Sunday local time that while the agreement has eased tensions, there is little reason to celebrate, as tariff levels remain high, China Media Group (CMG) reported. In the long run, this may not be a particularly sustainable agreement, but we'll wait and see, according to Tavio, per CMG.

Tavio said he looks forward to the European Commission providing detailed information about the content of the agreement and the positions of EU member states, according to the report. He noted that trade policy has become increasingly strained and global trade more unstable as a result of tariff negotiations initiated by the Trump administration.

The tariffs level has also been criticized as harmful by leaders in Germany's business and economic circles.

According to estimates by the Kiel Institute for the World Economy, a blanket 15 percent tariff — alongside higher duties on steel and aluminum — would reduce Germany's GDP by 0.15 percent within a year, equivalent to a loss of 6.5 billion euros ($7.1 billion). The overall GDP of the EU would decline by 0.1 percent.

Julian Hinz, head of the Research Center Trade Policy at the Kiel Institute, strongly criticized the agreement to lower tariffs to 15 percent, describing it as "a bad deal, scarcely better than the Trump administration's 30 percent tariff threat," according to CMG's another report.

He emphasized this undermined the rules-based global trading system, and slammed it as a serious strategic mistake.

Describing the deal as a painful compromise that was an "existential threat" for many of its members, Germany's BGA wholesale and export association said it was time for Europe to reduce its reliance on its biggest trading partner, the Reuters reported on Monday.

"Let's look on the past months as a wake-up call," said BGA President Dirk Jandura. Jandura called on the Europe must now prepare itself strategically for the future, "we need new trade deals with the biggest industrial powers of the world."

Global Times