Press release on the EU US Joint Statement on transatlantic trade

Anna Cavazzini, Greens/EFA shadow on the EU-US trade relations, comments on the Joint Statement on transatlantic trade and investment, published today:

„Good things do not come to those who wait. The EU and US finally published their joint statement on trade policy. What should have been a formality, following the political agreement and press conference by US President Trump and Commission President von der Leyen, turned into tough negotiations. This shows how contentious the issues remain and how superficial the political deal was, leaving plenty of room for interpretation.

It is a bad deal for Europe. It imposes tariffs on European exports to the US and further increases Europe’s dependence on the United States in critical sectors such as defence, semiconductors, AI and energy, instead of reducing it. Fossil fuel exports worth hundreds of billions of euros combined with commitments to weaken EU energy regulations undermine the EU Green Deal. This trade deal shows Trump and the rest of the world that his blackmail works, further weakening the global rules-based order.

One small ray of hope is that the Commission has at least secured a commitment from the US not to impose more than the basic 15% tariff on pharmaceutical products, semiconductors and cars in the future. This was a point of contention until the very end.

However, the Commission is crossing its own red lines by agreeing to undermine democratic legislative procedures and the EU’s regulatory sovereignty, thereby legitimising Trump’s coercive measures. It is unprecedented for the EU to grant a third country the right to influence our legislation. For example, the EU has agreed not to introduce network fees, pre-empting a democratic decision, and to amend the EU due diligence law. This is a complete surrender to Trump.”