The French Prime Minister said the U.S. EU trade deal is a “dark day” in Europe. Trump tariffs

The U.S. EU trade deal was restricted on Sunday in a banquet hall at the golf resort of Donald Trump in Scotland.

This transaction will 15% tariffs on almost all European exports in the United States Including cars, the threat of a punitive 30% import tariff was ended, the deal was on the deadline of Trump’s August 1 deadline, but it was a world apart from zero imports and exports originally offered by the EU.

This also means that European exporters to the United States will face three times the 4.8% tariff that is now valid and continue negotiations, with steel still facing a question mark of 50% tariffs, aviation and obstacles to future drug exports.

French Prime Minister François Bayrou said Europe submitted the United States for the alliance on “dark days.” “It was a dark day, and the alliance of the free nations came together to affirm their values and defend their own interests, determined to submit,”

German Chancellor Friedrich Merz quickly respected the deal, saying it avoided “an unnecessary escalation in transatlantic trade relations” and avoided potentially destructive trade wars.

German exporters are not that enthusiastic. The powerful BDI Industrial Group Federation said the agreement would have “a considerable negative impact”, while the country’s VCI Chemical Trade Association said the agreement was “too high”.

It is also clear that the 15% tariff on U.S. automotive products will put a burden on German auto companies in transformation, sales and profits.

Hildegard Müller, chairman of the VDA of the Automotive Industry Federation, said a framework agreement was reached but warned of the huge upcoming costs, which was “fundamentally positive.”

European stock markets hit a four-month high when trading began on Monday, as a result of a relief from a deal. Germany’s DAX jumped 0.86%, while France’s CAC 40 index rose 1.1%.

Ireland, one of the EU’s highest U.S. exporters, said on Sunday it welcomed the deal “a measure of much-needed certainty”, but in a statement from its Deputy Prime Minister Simon Harris, it “regrets” the baseline tariffs.

French European Minister Benjamin Haddad said on Monday that the agreement would provide “temporary stability…but it is unbalanced”.

German bank Berenberg said the deal ended “serious uncertainty” but said it was a Trump victory.

“It’s great to reach an agreement. But in two main aspects, the results are still much worse than before Trump began a new trade war early this year,” said Holger Schmieding, chief economist at Berenberg.

“The additional U.S. tariffs will harm the U.S. and the EU. For Europe, the losses are mostly pre-loaded,” Schmiding said in a notice to clients on Monday morning.

“The deal is asymmetric. U.S. imports from the EU have increased significantly and received further EU discounts. In a clear zero-sum mentality, Trump can claim it is a “win” against him,” Schmieding added.

Italian bank Unicreit also said Trump stood out from the EU. “Is this a good deal for the EU? Probably not. The result is asymmetric, which makes us tariffs on imported EU goods much higher than the EU tariffs on US imports,” Unicredit said in a report to customers.

European Commission President Ursula von der Leyen admitted: “15% is not underestimated, but it is the best 15% we can get.”

Initially, the EU had tried to pass retaliation measures threatening but suspended 2.1 billion euros (£18 billion) in April and added another list of U.S. imports that would be taxed earlier this month.

But it Spin to British style quick deal After NATO summit held in June, NATO swaps a comprehensive trade deal for Trump’s security and defense commitments.

By contrast, China, which threatens the United States with a series of punitive tariffs, is still in talks with Trump.

Berenberg said the deal would affect the German economy, but the decline in growth would be offset by the federal government’s recent growth stimulus package.

The EU has pushed for compromises to steel, which can allow certain quotas before tariffs are imposed. Trump seems to think steel is “stayed as it is,” but Von der Leyen later insists that “the tariffs will be cut and a quota system will be set for steel.”

He also ruled out the engraving of the medicine, but later Von der Leyen said the 15% tariff would apply to EU medical exports and that any other tariff would be in compliance with the U.S. president.

Now that the EU imposes a 25% levy on cars, 50% of steel and aluminum, and a full tariff of 10% and Washington threatens to increase to 30% without exchange.

The group has been working on tariffs ranging from aircraft to spirits, and its automotive industry is crucial to France and Germany, and has been included in the tax imposed so far.