EU, US Reach Deal to Avoid Trump Tariff Hike Before Deadline
BloombergJUL 27
This is all but a fair trade deal, especially as Brussels has capitulated to Trump's tariff juggernaut amid fears that a confrontational posture with the U.S. could affect other areas such as security. EU technocrats may feel relieved that an immediate transatlantic trade war has been averted, but they are certain that better trade terms could have been reached had they stood up to Trump's aggressive approach.
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There's a 50% chance that the effective U.S. tariff rate on goods being imported into the United States will be 9.23% at the end of 2026, according to the Metaculus prediction community.