Stephen Colbert has incredibly blunt response to Donald Trump after Late Show axing
The 61-year-old Late Show host has responded after the President of the United States posted a gleeful reaction saying he "absolutely loves that Colbert got fired" after last week's announcement that the longrunning talk show - which was previously hosted by David Letterman - will end in May 2026 after over three decades on air.
Trump also claimed "his talent was even less than his ratings" on a post on Trust Social.
During his opening monologue on Monday's (21.07.25) episode of The Late Show With Stephen Colbert, the host quipped: "How dare you, sir?
"Would an untalented man be able to compose the following satirical witticism?'
An on-screen frame appeared captioned 'Eloquence Cam', as the presenter said: "Go f*** yourself."
Colbert also referenced Trump claiming "Jimmy Kimmel is next" to be fired.
He joked: "Nope, no, no. Absolutely not. Kimmel, I am the martyr.
"There's only room for one on this cross. And the view is fantastic from up here. I can see your house!'
Colbert insisted he will spend the last 10 months of his and the iconic show's tenure speaking "unvarnished truth to power".
He teased: "Folks, I'm gonna go ahead and say it: Cancel culture has gone to far. Over the weekend, it sunk in that they're killing off our show.
"But they made one mistake: They left me alive. And now, for the next 10 months, the gloves are off.
"I can finally speak unvarnished truth to power and say what I really think about Donald Trump, starting right now.
'I don't care for him. Doesn't have the skillset to be president. Not a good fit, that's all.'
Colbert did reiterate that CBS have "always been great partners", but questioned their statement claiming the decision to end the show was a "purely a financial decision" move.
He asked: "How could it be purely be a financial decision if 'The Late Show' is No. 1 in ratings?'
The announcement came after CBS' parent company Paramount Global settled a $16 million lawsuit with Trump after he alleged Kamala Harris' 60 Minutes interview was deceptively edited.
On his show, following the settlement, Colbert described the move as a "big, fat bribe" as Paramount awaits FDA approval for its merger with Skydance.
Elsewhere on Monday's episode, Colbert was joined by fellow late night hosts like Jimmy Fallon, Seth Meyers, Andy Cohen, John Oliver, Anderson Cooper, John Stewart, plus Christopher McDonald and Adam Sandler for a spoof of the recent viral Coldplay kiss-cam video.
Colbert said: "I don't want this show to be associated with making you sad or anxious.
"So I thought: music, OK? That makes people happy, right? So instead of me talking, here with a song to cheer you up are two musical greats."
'Weird Al' Yankovic and Lin-Manuel Miranda then performed Coldplay's Viva La Vida as the 'couples' were shown on screen.
Colbert then joked: "I just got this note from corporate. Your song has been canceled. It says here, 'This is a purely financial decision.' "
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The Advertiser
10 minutes ago
- The Advertiser
Trump says main priority in Gaza is getting people fed
US President Donald Trump says the number one priority in the Gaza Strip is getting people fed, because "you have a lot of starving people," adding that he was not going to take a position on Palestinian statehood at the moment. Trump, speaking alongside UK Prime Minister Keir Starmer at his golf resort in Turnberry, Scotland, said the United States had provided $US60 million ($A92 million) for humanitarian aid and other countries would have to step up. He said he discussed the issue with European Commission President Ursula von der Leyen on Sunday, and she told him European countries would step up their assistance very substantially. He said he also planned to discuss the humanitarian situation with Starmer during his visit on Monday. "We're giving a lot of money and a lot of food, and other nations are now stepping up," Trump said. "It's a mess. They have to get food and safety right now." Starmer agreed, saying: "It's a humanitarian crisis, right? It's an absolute catastrophe .... I think people in Britain are revolted at seeing what they're seeing on their screen." Trump said he would not comment on a push by French President Emmanuel Macron to back Palestinian statehood. Trump also criticised the Hamas militant group for not agreeing to release more hostages, living and dead, and said he had told Israeli Prime Minister Benjamin Netanyahu that Israel's approach would likely have to change. "I told Bibi that you have to maybe do it a different way," Trump said, echoing similar comments made on Sunday. Asked if a ceasefire was still possible, Trump said, "Yeah, a ceasefire is possible but you have to get it, you have to end it." He did not elaborate on what he meant. Trump underscored the importance of securing the release of hostages held by Hamas in the Gaza Strip, saying the Palestinian group had changed its position and was refusing to release more hostages. Hamas has said it is willing to release hostages under a ceasefire agreement with Israel. It submitted its response to a US-backed ceasefire proposal on Thursday at talks in Doha. Hours later, Israel withdrew its delegation from the talks. On Sunday, Trump said Israel would have to make a decision on next steps, adding, "I know what I'd do but I don't think it's appropriate that I say it". Israel carried out an air drop and announced a series of measures over the weekend to improve access for aid, including daily humanitarian pauses in three areas of the Gaza Strip and new safe corridors for convoys. United Nations agencies say those moves are not yet sufficient to alleviate famine-like conditions facing the enclave's residents. On Monday, the Gaza health ministry said at least 14 people had died in the past 24 hours of starvation and malnutrition, bringing the war's death toll from hunger to 147, including 89 children, most in just the last few weeks. Israel cut off all supplies to the Gaza Strip from the start of March, reopening the territory with new restrictions in May. Israel says it abides by international law but must prevent aid from being diverted by militants, and blames Hamas for the suffering of the Gaza Strip's people. "Israel is presented as though we are applying a campaign of starvation in Gaza. What a bald-faced lie. There is no policy of starvation in Gaza, and there is no starvation in Gaza," Netanyahu said on Sunday. US President Donald Trump says the number one priority in the Gaza Strip is getting people fed, because "you have a lot of starving people," adding that he was not going to take a position on Palestinian statehood at the moment. Trump, speaking alongside UK Prime Minister Keir Starmer at his golf resort in Turnberry, Scotland, said the United States had provided $US60 million ($A92 million) for humanitarian aid and other countries would have to step up. He said he discussed the issue with European Commission President Ursula von der Leyen on Sunday, and she told him European countries would step up their assistance very substantially. He said he also planned to discuss the humanitarian situation with Starmer during his visit on Monday. "We're giving a lot of money and a lot of food, and other nations are now stepping up," Trump said. "It's a mess. They have to get food and safety right now." Starmer agreed, saying: "It's a humanitarian crisis, right? It's an absolute catastrophe .... I think people in Britain are revolted at seeing what they're seeing on their screen." Trump said he would not comment on a push by French President Emmanuel Macron to back Palestinian statehood. Trump also criticised the Hamas militant group for not agreeing to release more hostages, living and dead, and said he had told Israeli Prime Minister Benjamin Netanyahu that Israel's approach would likely have to change. "I told Bibi that you have to maybe do it a different way," Trump said, echoing similar comments made on Sunday. Asked if a ceasefire was still possible, Trump said, "Yeah, a ceasefire is possible but you have to get it, you have to end it." He did not elaborate on what he meant. Trump underscored the importance of securing the release of hostages held by Hamas in the Gaza Strip, saying the Palestinian group had changed its position and was refusing to release more hostages. Hamas has said it is willing to release hostages under a ceasefire agreement with Israel. It submitted its response to a US-backed ceasefire proposal on Thursday at talks in Doha. Hours later, Israel withdrew its delegation from the talks. On Sunday, Trump said Israel would have to make a decision on next steps, adding, "I know what I'd do but I don't think it's appropriate that I say it". Israel carried out an air drop and announced a series of measures over the weekend to improve access for aid, including daily humanitarian pauses in three areas of the Gaza Strip and new safe corridors for convoys. United Nations agencies say those moves are not yet sufficient to alleviate famine-like conditions facing the enclave's residents. On Monday, the Gaza health ministry said at least 14 people had died in the past 24 hours of starvation and malnutrition, bringing the war's death toll from hunger to 147, including 89 children, most in just the last few weeks. Israel cut off all supplies to the Gaza Strip from the start of March, reopening the territory with new restrictions in May. Israel says it abides by international law but must prevent aid from being diverted by militants, and blames Hamas for the suffering of the Gaza Strip's people. "Israel is presented as though we are applying a campaign of starvation in Gaza. What a bald-faced lie. There is no policy of starvation in Gaza, and there is no starvation in Gaza," Netanyahu said on Sunday. US President Donald Trump says the number one priority in the Gaza Strip is getting people fed, because "you have a lot of starving people," adding that he was not going to take a position on Palestinian statehood at the moment. Trump, speaking alongside UK Prime Minister Keir Starmer at his golf resort in Turnberry, Scotland, said the United States had provided $US60 million ($A92 million) for humanitarian aid and other countries would have to step up. He said he discussed the issue with European Commission President Ursula von der Leyen on Sunday, and she told him European countries would step up their assistance very substantially. He said he also planned to discuss the humanitarian situation with Starmer during his visit on Monday. "We're giving a lot of money and a lot of food, and other nations are now stepping up," Trump said. "It's a mess. They have to get food and safety right now." Starmer agreed, saying: "It's a humanitarian crisis, right? It's an absolute catastrophe .... I think people in Britain are revolted at seeing what they're seeing on their screen." Trump said he would not comment on a push by French President Emmanuel Macron to back Palestinian statehood. Trump also criticised the Hamas militant group for not agreeing to release more hostages, living and dead, and said he had told Israeli Prime Minister Benjamin Netanyahu that Israel's approach would likely have to change. "I told Bibi that you have to maybe do it a different way," Trump said, echoing similar comments made on Sunday. Asked if a ceasefire was still possible, Trump said, "Yeah, a ceasefire is possible but you have to get it, you have to end it." He did not elaborate on what he meant. Trump underscored the importance of securing the release of hostages held by Hamas in the Gaza Strip, saying the Palestinian group had changed its position and was refusing to release more hostages. Hamas has said it is willing to release hostages under a ceasefire agreement with Israel. It submitted its response to a US-backed ceasefire proposal on Thursday at talks in Doha. Hours later, Israel withdrew its delegation from the talks. On Sunday, Trump said Israel would have to make a decision on next steps, adding, "I know what I'd do but I don't think it's appropriate that I say it". Israel carried out an air drop and announced a series of measures over the weekend to improve access for aid, including daily humanitarian pauses in three areas of the Gaza Strip and new safe corridors for convoys. United Nations agencies say those moves are not yet sufficient to alleviate famine-like conditions facing the enclave's residents. On Monday, the Gaza health ministry said at least 14 people had died in the past 24 hours of starvation and malnutrition, bringing the war's death toll from hunger to 147, including 89 children, most in just the last few weeks. Israel cut off all supplies to the Gaza Strip from the start of March, reopening the territory with new restrictions in May. Israel says it abides by international law but must prevent aid from being diverted by militants, and blames Hamas for the suffering of the Gaza Strip's people. "Israel is presented as though we are applying a campaign of starvation in Gaza. What a bald-faced lie. There is no policy of starvation in Gaza, and there is no starvation in Gaza," Netanyahu said on Sunday. US President Donald Trump says the number one priority in the Gaza Strip is getting people fed, because "you have a lot of starving people," adding that he was not going to take a position on Palestinian statehood at the moment. Trump, speaking alongside UK Prime Minister Keir Starmer at his golf resort in Turnberry, Scotland, said the United States had provided $US60 million ($A92 million) for humanitarian aid and other countries would have to step up. He said he discussed the issue with European Commission President Ursula von der Leyen on Sunday, and she told him European countries would step up their assistance very substantially. He said he also planned to discuss the humanitarian situation with Starmer during his visit on Monday. "We're giving a lot of money and a lot of food, and other nations are now stepping up," Trump said. "It's a mess. They have to get food and safety right now." Starmer agreed, saying: "It's a humanitarian crisis, right? It's an absolute catastrophe .... I think people in Britain are revolted at seeing what they're seeing on their screen." Trump said he would not comment on a push by French President Emmanuel Macron to back Palestinian statehood. Trump also criticised the Hamas militant group for not agreeing to release more hostages, living and dead, and said he had told Israeli Prime Minister Benjamin Netanyahu that Israel's approach would likely have to change. "I told Bibi that you have to maybe do it a different way," Trump said, echoing similar comments made on Sunday. Asked if a ceasefire was still possible, Trump said, "Yeah, a ceasefire is possible but you have to get it, you have to end it." He did not elaborate on what he meant. Trump underscored the importance of securing the release of hostages held by Hamas in the Gaza Strip, saying the Palestinian group had changed its position and was refusing to release more hostages. Hamas has said it is willing to release hostages under a ceasefire agreement with Israel. It submitted its response to a US-backed ceasefire proposal on Thursday at talks in Doha. Hours later, Israel withdrew its delegation from the talks. On Sunday, Trump said Israel would have to make a decision on next steps, adding, "I know what I'd do but I don't think it's appropriate that I say it". Israel carried out an air drop and announced a series of measures over the weekend to improve access for aid, including daily humanitarian pauses in three areas of the Gaza Strip and new safe corridors for convoys. United Nations agencies say those moves are not yet sufficient to alleviate famine-like conditions facing the enclave's residents. On Monday, the Gaza health ministry said at least 14 people had died in the past 24 hours of starvation and malnutrition, bringing the war's death toll from hunger to 147, including 89 children, most in just the last few weeks. Israel cut off all supplies to the Gaza Strip from the start of March, reopening the territory with new restrictions in May. Israel says it abides by international law but must prevent aid from being diverted by militants, and blames Hamas for the suffering of the Gaza Strip's people. "Israel is presented as though we are applying a campaign of starvation in Gaza. What a bald-faced lie. There is no policy of starvation in Gaza, and there is no starvation in Gaza," Netanyahu said on Sunday.
The Australian
26 minutes ago
- The Australian
EU defends Trump trade deal facing backlash
The European Union on Monday vehemently defended its trade deal with President Donald Trump, with EU capitals and businesses sharply divided on an outcome some branded a "capitulation". "I'm 100 percent sure that this deal is better than a trade war with the United States," top EU trade negotiator Maros Sefcovic told journalists. European Commission President Ursula von der Leyen clinched the framework accord with Trump Sunday after dashing to Scotland as the August 1 deadline loomed for steep levies that threatened to cripple Europe's economy. EU exports are now set to face across-the-board tariffs of 15 percent -- higher than customs duties before Trump returned to the White House, but much lower than his threatened 30 percent. The 27-nation bloc also promised its companies would purchase energy worth $750 billion from the United States and make $600 billion in additional investments -- although it was not clear how binding those pledges would be. "This is clearly the best deal we could get under very difficult circumstances," Sefcovic said. Full details of the agreement -- and crucially which sectors could escape the 15-percent levy -- will be known in coming days, although the EU says it has avoided steeper tariffs on key exports including cars and medicines. But the reaction from European capitals -- which gave von der Leyen the mandate to negotiate -- ranged from muted to outright hostile. French Prime Minister Francois Bayrou said it was a "dark day" for Europe and said the accord was tantamount to "submission". Speaking for Europe's biggest economy, German Chancellor Friedrich Merz gave a warmer welcome to a deal he said had avoided "needless escalation". Industry groups in both countries made plain their disappointment however, with Germany's main auto sector body saying the 15-percent levy "burdens" carmakers while its VCI chemical trade association said the rates were "too high". Hungary's Prime Minister Viktor Orban attacked the deal in blunt terms, saying "Trump ate Ursula von der Leyen for breakfast". - 'Not only about trade' - "It looks a bit like a capitulation," said Alberto Rizzi of the European Council on Foreign Relations (ECFR). "The EU accepted a fairly unbalanced deal," he added, saying it delivered a "political victory for Trump". Von der Leyen had faced intense pressure from EU states to strike a deal quickly with the bloc's biggest partner and protect a $1.9-trillion trading relationship. Defending Brussels' approach, Sefcovic warned that a no-deal scenario -- meaning a 30-percent tariff and the prospect of further escalation -- would have risked up to five million jobs in Europe. Throughout the months-long talks, Brussels prioritised stability and maintaining good relations with Washington, over escalation. That line of thinking has support: Italian Prime Minister Giorgia Meloni, a Trump ally, said the deal had avoided "potentially devastating" consequences. Markets in Asia and Europe welcomed the certainty and rose following the announcement -- reflecting the 4.4 billion euros ($5.1 billion) worth of daily transatlantic goods and services trade that were at stake. Hanging over the negotiations was the risk to other areas of cooperation -- like Ukraine -- if the EU descended into a trade war with its closest security partner. "It's not only about the trade -- it's about security, it's about Ukraine," Sefcovic told reporters Monday. Jacob Funk Kirkegaard of the Peterson Institute for International Economics acknowledged it was "clearly an imbalanced deal" if judged purely on trade terms. "But if you're trying to avoid worse national security outcomes, well then maybe the deal is not so bad," he said. - Cautious approach - The EU had sought to ramp up the pressure in the final stretch of talks, fearing a bad deal and higher levies, with countries approving a $109-billion package of counter-tariffs at the last minute. And states led by France were pushing for a more robust response including the option to deploy the trade "bazooka" known as the anti-coercion instrument. But the threat of retaliation was consistently framed by Brussels as a last resort should talks fail, and experts suggested the hardening stance may have come too late to make a real difference. "If the EU had played hardball at the very beginning, it probably could have got a better deal," ECFR's Rizzi told AFP. raz/ec/rl
The Advertiser
35 minutes ago
- The Advertiser
Europe reacts with relief and concern to US trade deal
European governments and companies are reacting with both relief and concern to the framework trade deal struck with US President Donald Trump, acknowledging what is seen as an unbalanced deal but one that avoids a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global trade, will see the US impose a 15 per cent import tariff on most EU goods - half the threatened rate but much more than what Europeans hoped for. Many of the specifics of the deal were not immediately known, however. "As we await full details of the new EU–US trade agreement, one thing is clear: this is a moment of relief but not of celebration," Belgian Prime Minister Bart De Wever wrote on X. "Tariffs will increase in several areas and some key questions remain unresolved." Trump said the deal, including an investment pledge topping the $US550 billion ($A843 billion) deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of US exporters. It will bring clarity for European makers of cars, planes and chemicals. But the EU had initially hoped for a zero-for-zero tariff deal. And the 15 per cent baseline tariff, while an improvement on the threatened rate of 30 per cent, compares with an average US import tariff rate of about 2.5 per cent in 2024 before Trump's return to the White House. European Commission chief Von der Leyen, describing Trump as a tough negotiator, told reporters on Sunday that it was "the best we could get". European stocks opened up on Monday, with the STOXX 600 at a four-month high and all other major bourses also in the green, with tech and healthcare stocks leading the way. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector hard. French government ministers said on Monday that the deal had some merits - such as exemptions they hoped to see for some key French business sectors such as spirits - but was nevertheless not balanced. Industry minister Marc Ferracci stressed more talks - potentially lasting weeks or months - would be needed before the deal could be formally concluded. "This is not the end of the story," he told RTL radio. European companies were left wondering whether to cheer or lament the accord. "Those who expect a hurricane are grateful for a storm," said Wolfgang Grosse Entrup, head of the German Chemical Industry Association VCI. "Further escalation has been avoided. Nevertheless, the price is high for both sides. European exports are losing competitiveness. US customers are paying the tariffs," he said. Among the many questions that remain to be answered, however, is how the EU's promise to invest hundreds of billions of dollars in the US and steeply increase energy purchases can be turned into reality. It was not immediately clear if specific pledges of increased investments were made or whether the details still must be hammered out. And while the EU pledged to make $US750 billion in strategic purchases over the next three years, including oil, liquefied natural gas and nuclear fuel, the US will struggle to produce enough to meet that demand. While US LNG production capacity is due to almost double during the next four years it will still not be enough to ramp up supplies to Europe, and oil production is expected to be lower than previously forecast in 2025. European governments and companies are reacting with both relief and concern to the framework trade deal struck with US President Donald Trump, acknowledging what is seen as an unbalanced deal but one that avoids a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global trade, will see the US impose a 15 per cent import tariff on most EU goods - half the threatened rate but much more than what Europeans hoped for. Many of the specifics of the deal were not immediately known, however. "As we await full details of the new EU–US trade agreement, one thing is clear: this is a moment of relief but not of celebration," Belgian Prime Minister Bart De Wever wrote on X. "Tariffs will increase in several areas and some key questions remain unresolved." Trump said the deal, including an investment pledge topping the $US550 billion ($A843 billion) deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of US exporters. It will bring clarity for European makers of cars, planes and chemicals. But the EU had initially hoped for a zero-for-zero tariff deal. And the 15 per cent baseline tariff, while an improvement on the threatened rate of 30 per cent, compares with an average US import tariff rate of about 2.5 per cent in 2024 before Trump's return to the White House. European Commission chief Von der Leyen, describing Trump as a tough negotiator, told reporters on Sunday that it was "the best we could get". European stocks opened up on Monday, with the STOXX 600 at a four-month high and all other major bourses also in the green, with tech and healthcare stocks leading the way. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector hard. French government ministers said on Monday that the deal had some merits - such as exemptions they hoped to see for some key French business sectors such as spirits - but was nevertheless not balanced. Industry minister Marc Ferracci stressed more talks - potentially lasting weeks or months - would be needed before the deal could be formally concluded. "This is not the end of the story," he told RTL radio. European companies were left wondering whether to cheer or lament the accord. "Those who expect a hurricane are grateful for a storm," said Wolfgang Grosse Entrup, head of the German Chemical Industry Association VCI. "Further escalation has been avoided. Nevertheless, the price is high for both sides. European exports are losing competitiveness. US customers are paying the tariffs," he said. Among the many questions that remain to be answered, however, is how the EU's promise to invest hundreds of billions of dollars in the US and steeply increase energy purchases can be turned into reality. It was not immediately clear if specific pledges of increased investments were made or whether the details still must be hammered out. And while the EU pledged to make $US750 billion in strategic purchases over the next three years, including oil, liquefied natural gas and nuclear fuel, the US will struggle to produce enough to meet that demand. While US LNG production capacity is due to almost double during the next four years it will still not be enough to ramp up supplies to Europe, and oil production is expected to be lower than previously forecast in 2025. European governments and companies are reacting with both relief and concern to the framework trade deal struck with US President Donald Trump, acknowledging what is seen as an unbalanced deal but one that avoids a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global trade, will see the US impose a 15 per cent import tariff on most EU goods - half the threatened rate but much more than what Europeans hoped for. Many of the specifics of the deal were not immediately known, however. "As we await full details of the new EU–US trade agreement, one thing is clear: this is a moment of relief but not of celebration," Belgian Prime Minister Bart De Wever wrote on X. "Tariffs will increase in several areas and some key questions remain unresolved." Trump said the deal, including an investment pledge topping the $US550 billion ($A843 billion) deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of US exporters. It will bring clarity for European makers of cars, planes and chemicals. But the EU had initially hoped for a zero-for-zero tariff deal. And the 15 per cent baseline tariff, while an improvement on the threatened rate of 30 per cent, compares with an average US import tariff rate of about 2.5 per cent in 2024 before Trump's return to the White House. European Commission chief Von der Leyen, describing Trump as a tough negotiator, told reporters on Sunday that it was "the best we could get". European stocks opened up on Monday, with the STOXX 600 at a four-month high and all other major bourses also in the green, with tech and healthcare stocks leading the way. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector hard. French government ministers said on Monday that the deal had some merits - such as exemptions they hoped to see for some key French business sectors such as spirits - but was nevertheless not balanced. Industry minister Marc Ferracci stressed more talks - potentially lasting weeks or months - would be needed before the deal could be formally concluded. "This is not the end of the story," he told RTL radio. European companies were left wondering whether to cheer or lament the accord. "Those who expect a hurricane are grateful for a storm," said Wolfgang Grosse Entrup, head of the German Chemical Industry Association VCI. "Further escalation has been avoided. Nevertheless, the price is high for both sides. European exports are losing competitiveness. US customers are paying the tariffs," he said. Among the many questions that remain to be answered, however, is how the EU's promise to invest hundreds of billions of dollars in the US and steeply increase energy purchases can be turned into reality. It was not immediately clear if specific pledges of increased investments were made or whether the details still must be hammered out. And while the EU pledged to make $US750 billion in strategic purchases over the next three years, including oil, liquefied natural gas and nuclear fuel, the US will struggle to produce enough to meet that demand. While US LNG production capacity is due to almost double during the next four years it will still not be enough to ramp up supplies to Europe, and oil production is expected to be lower than previously forecast in 2025. European governments and companies are reacting with both relief and concern to the framework trade deal struck with US President Donald Trump, acknowledging what is seen as an unbalanced deal but one that avoids a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global trade, will see the US impose a 15 per cent import tariff on most EU goods - half the threatened rate but much more than what Europeans hoped for. Many of the specifics of the deal were not immediately known, however. "As we await full details of the new EU–US trade agreement, one thing is clear: this is a moment of relief but not of celebration," Belgian Prime Minister Bart De Wever wrote on X. "Tariffs will increase in several areas and some key questions remain unresolved." Trump said the deal, including an investment pledge topping the $US550 billion ($A843 billion) deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of US exporters. It will bring clarity for European makers of cars, planes and chemicals. But the EU had initially hoped for a zero-for-zero tariff deal. And the 15 per cent baseline tariff, while an improvement on the threatened rate of 30 per cent, compares with an average US import tariff rate of about 2.5 per cent in 2024 before Trump's return to the White House. European Commission chief Von der Leyen, describing Trump as a tough negotiator, told reporters on Sunday that it was "the best we could get". European stocks opened up on Monday, with the STOXX 600 at a four-month high and all other major bourses also in the green, with tech and healthcare stocks leading the way. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector hard. French government ministers said on Monday that the deal had some merits - such as exemptions they hoped to see for some key French business sectors such as spirits - but was nevertheless not balanced. Industry minister Marc Ferracci stressed more talks - potentially lasting weeks or months - would be needed before the deal could be formally concluded. "This is not the end of the story," he told RTL radio. European companies were left wondering whether to cheer or lament the accord. "Those who expect a hurricane are grateful for a storm," said Wolfgang Grosse Entrup, head of the German Chemical Industry Association VCI. "Further escalation has been avoided. Nevertheless, the price is high for both sides. European exports are losing competitiveness. US customers are paying the tariffs," he said. Among the many questions that remain to be answered, however, is how the EU's promise to invest hundreds of billions of dollars in the US and steeply increase energy purchases can be turned into reality. It was not immediately clear if specific pledges of increased investments were made or whether the details still must be hammered out. And while the EU pledged to make $US750 billion in strategic purchases over the next three years, including oil, liquefied natural gas and nuclear fuel, the US will struggle to produce enough to meet that demand. While US LNG production capacity is due to almost double during the next four years it will still not be enough to ramp up supplies to Europe, and oil production is expected to be lower than previously forecast in 2025.
