Donald Trump returns to threaten the European Union. After the truce signed in Scotland, the former president increases the pressure with a clear threat: if the promised 600 billion in investments do not arrive, tariffs of up to 35% will be imposed. A warning that reignites concerns about the most exposed sectors, such as pharmaceuticals and microchips, for which there is talk of rates as high as 250% "as early as next week".
Brussels holds back (for now)
A cautious response comes from the European Commission: "The maximum cap remains at 15%," they reiterate from Brussels. According to the EU, this is a sort of "guarantee shield" for all strategic sectors. However, if Washington were to exceed this threshold, the Union is ready to react. Meanwhile, countermeasures are frozen for six months, pending formal ratification by the 27 member states.
Agreements to be completed, investments in the balance
The text of the transatlantic agreement is almost ready, but open issues remain. In particular, the matter of private investments – over a trillion euros, according to estimates – is complex because it escapes direct political control. The reduction of tariffs on automotive (from 27.5% to 15%) also depends on a new American executive order. Brussels remains hopeful, but the breakthrough has not yet arrived.
The hard line on key sectors
The EU promises to fight over every single strategic product: from airplanes to medical devices, from wine to spirits. Some sectors will benefit immediately, others will require months of negotiations. Italy aims to defend its agri-food sector, while concerns grow about the consequences for big pharma and European exports in general.
Between relief and internal tensions
In Brussels, they seek a balance between realism and optimism. "It's not the perfect deal, but it's the best under the current conditions," say EU sources. However, internal frictions are not lacking. Germany has expressed reservations through Minister Lars Klingbeil, criticizing the agreement directly from the United States. The European executive defends the negotiation choice as the only way to ensure stability.
Eyes on Switzerland and India
Meanwhile, other countries are also trembling. Switzerland risks a record tariff of 39%, while India – accused of ambiguity in relations with Moscow – could face a blow exceeding 25%. Signals that demonstrate how Trump's trade strategy spares no one. Europe, for now, holds its position. But the real test has yet to begin.
