European leaders express concerns over new trade deal with US
Date: 2025-07-28T08:05:51.000Z
Title: Morning opening: The art of the deal
Content: Good news: the EU has a new trade deal with the US.
Bad news: There don't seem to be many people who think it's a particularly good deal.
The framework agreement, agreed by European Commission president Ursula von der Leyen and US president Donald Trump at a late meeting in Scotland, manages to avert a damaging transatlantic trade war, imposing a 15% import tariff on most EU goods – half the threatened rate.
German chancellor Friedrich Merz focused on the fact that it managed to keep the unity of the European Union and offer some stability to businesses on both sides of the Atlantic, even if he would have liked the deal to achieve more.
Italian prime minister Giorgia Meloni said she needed to see the details of the deal to assess it further, asking questions about possible exemptions, promises of European investment and gas purchases from the US, and how to help affected industries.
French Europe minister Benjamin Haddad said that while the deal would 'bring temporary stability,' it was generally 'unbalanced,' calling the situation 'not satisfactory and … not sustainable.'
Not ideal.
Global markets responded positively, as you can see on our business live blog, but there is much more to this deal than that. It is not business as usual.
Elsewhere, I will be looking at Spain where the country's embattled prime minister Pedro Sánchez is due to give a summer press conference and the latest reports from Ukraine.
I will bring you all key updates from across Europe today.
It's Monday, 28 July 2025, it's Jakub Krupa here, and this is Europe Live.
Good morning.
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