I was planning on posting it in L/ Europe but placed in accidentally in L/world.
Please correct me if I get this wrong, but the EU-US trade deal is a legally non-binding agreement with a lot of points still to be discussed. There are a few points that are supposedly negative (for both the EU and the US, though many of the tariffs are still being negotiated further, so it’s everything but clear), the largest part of this agreement is still opaque, though.
For some points it is even unclear whether they will ever become reality, e.g., the ‘agreed’ EU investments by private companies of 600 billion dollars in the US. Neither an EU nor a national public authority will be monitoring this (and they could do nothing if companies don’t want to invest, it is similar to the Japan-US deal reached last week). In addition, the 600bn dollars appear to be a joke, as foreign direct investments by EU companies in the US have been increasing tremendously in the last decades and reached 3.4 trillion dollars in 2023 (the latest number I could find). This is more than seven times the agreed volume.
Even the agreed 750 billion dollars purchase of US liquid gas is not clear. There is no legally-binding commitment either on such a purchase since the EU may at best engage in some sort of facilitating and coordinating, but it will be the member states and their energy companies that do the actual buying.
All these discussion appear to be a bit overblown to me, but maybe I don’t understand the thing and I get it wrong.
Yes, this was news some days ago. This article gives a broader perspective to all that … See X Post world 1 and later Xpost 2 for some more references.
Yeah, that was not meant to be a critique for the post itself (sorry if I came off a bit too strong in that regard).
No worries mate. And I basically agree with you . But markets, politics, and citizens everywhere react to this all, and so it does have impact. I keep wondering what this is really all about, the broader implications, political symbolism and so on.
You can cross-post (https://lemmy.world/post/1067695)
