Both sides can win, but the devil may be detailed

After weeks of intense negotiations between senior trade officials, the EU and we finally reached a deal – the eve of the latest round of tariff talks between the United States and China.

Eventually, leaders from Washington and Brussels sat face to face to reach a deal on Sunday.

This is also what we have seen on other exchanges we have reached with President Donald Trump – his personal involvement is pushing their boundaries – even if the prospect of breaking out doesn’t seem bright.

This is important for both sides, as many businesses and jobs depend on what the EU calls “the largest bilateral trade and investment relationship in the world.”

Both President Trump and European Commission President Ursula von der Leyen can portray it as a victory.

For the EU, tariffs could be worse, i.e. 15% rather than the threatened 30%, although it is not as good as the UK’s 10% tax rate.

For the United States, based on expectations from last year’s trade data, this amounts to expectations of an estimated revenue of about $90 billion (£67 billion) from government coffers – and in addition, $60 billion will now be invested in the country.

There are many other big numbers about how much the EU will invest in the US, but the Devil will give a detailed look at many other big numbers.

Questions such as exactly when to make these investments, and in which areas are currently in, have not been answered yet.

The deal was sold as a milestone moment in the relationship between the United States and the European Union.

So far, this has not been easy.

Washington and the group of 27 countries both played hard balls and were not ready to surrender, which is why these conversations boiled down to the wires.

However, both sides hope that the negotiations will be delayed by the August 1 deadline.

For years, the U.S. president has opposed what he believes is unfair trade practices in Europe.

The first part is the deficit. Last year, this meant the U.S. purchased $236 billion in goods from the EU instead of selling it to the group.

Trump believes that this is the unnecessarily American wealth leaving the country. The reality is that international trade is a more complicated thing.

Another complaint is that the EU has strict regulations on everything from cars to chickens, making it harder for U.S. companies to sell their products in the EU, rather than the other way around.

When we get more details on this deal, we may know how much has been done to solve this problem.

But European Commission President Ursula von der Leyen seems to acknowledge the need to resolve the deficit.

“We have to rebalance. We have a good trade relationship,” she said in announcing the agreement.

“This is a lot of trade we’re together. So we’re going to make it more sustainable.”

The deal shows how President Trump is serious about renegotiating and how the United States, the world’s largest economy, operates with everyone else.

Given that the EU is composed of 27 distinct countries, this seems to be one of the trade agreements reached.

A few days after the United States reached another major deal with Japan – a deal with the United Kingdom, Vietnam and Indonesia were also reached.

There are other large trading partners on the table – Mexico, Canada and China.

With the U.S. president’s trading sentiment, there may be more positive news in the global economy over the next 48 hours.

The United States and China hold their next trade talks on Monday and Tuesday in Stockholm, Sweden

People expect higher tariffs could be suspended for another 90 days.

A few days ago, Trump said the United States “gets well with China” and suggested it has overcome the main sticky points of rare earth metal exports.

With a broad overview of an EU agreement, trade negotiators in Washington held talks with Beijing.

But so far, China has taken a more uncompromising approach than other U.S. trading partners.

And if conversations between the world’s two largest economies falter, global trade may still move towards rough waters in the coming months.