🌍 A new trade deal between the European Union and the U.S. is raising eyebrows—and alarm bells—for its lopsided terms, according to Spanish economist Sergi Basco. In a recent interview with Xinhua, the Barcelona University professor warned that Europe gains little from the agreement, with Germany and Spain’s auto industries set to take the hardest hit.
🚨 The Fine Print: Tariffs & Trade Imbalance
The deal slaps a baseline 15% tariff on EU goods entering the U.S., while many American exports to Europe face zero tariffs. Basco called this a rare 'win' for Europe only because 'instead of 30%, it’s 15%'—hardly a victory lap moment.
🇩🇪 Germany’s Pain, Spain’s Chain Reaction
As the EU’s top exporter to the U.S., Germany’s carmakers could see sales plummet. But Spain’s automotive sector isn’t safe either. 'Many German cars use parts made in Spain,' Basco noted, meaning supply chain disruptions could ripple across borders.
💔 'Weak' Negotiations, Uncertain Future
Basco criticized EU leaders for folding under U.S. pressure, calling their response 'weak.' He also flagged that the deal is non-binding, requiring approval from all 27 EU member states. With ambassadors set to meet Monday, the agreement’s fate hangs in the balance.
Could this be a 'framework' for stability—or a shaky truce in the transatlantic trade war? Stay tuned. 🔍
