Trump's huge deal with Europe

 NY Post:

It took just 75 minutes for President Trump to get what he wanted out of the European Union.

That’s how long he and European Commission President Ursula von der Leyen were away from the cameras.

When they returned, Trump was triumphant. Europe agreed to buy $750 billion in American energy products, invest $600 billion in new money in the US and purchase additional US military equipment, according to the terms of the preliminary agreement.

Tariffs on many American exports will drop to zero. Duties on most European goods coming into the US rise to 15%.
...

The stated terms of the tariff deal appeared to be remarkably lopsided in favor of the US. Von der Leyen suggested that the only real concession from the Americans was that Trump would not impose 30% tariffs he had threatened.

The 27-member bloc is America’s biggest trading partner if taken together, with total trade hitting $1.97 trillion last year. The US trade deficit for goods was $235 billion.

The deal avoids a trade war between two economies that account for about 44% of the world’s gross domestic product — less than a week before steep “Liberation Day” levies were set to bite.

“I think we both wanted to make a deal,” the president said. “It’s going to bring us closer together. I think this deal will bring us very close together.”
...

This is a remarkably good deal for the US.  I think what the EU gets out of the deal is continued support of the US military against the threat posed by Russia and potentially China.  It looks like Europe will be less dependent on the Middle East for energy becasue of its deal for US energy.

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