Economist Podcasts EU gotta know when to hold ‘em: America’s latest trade deal
70 snips
Jul 28, 2025 
In this engaging discussion, Joel Budd, a Social Affairs Editor, dives into the new trade deal between the US and the EU, unraveling its complexities and potential impact on international relations. He also sheds light on the often-overlooked Midlands region of England, exploring its unique cultural identity and the need for rebranding to enhance its tourism appeal. Additionally, Budd pays tribute to the inspiring life of Fauja Singh, who completed a marathon at 88, highlighting themes of perseverance and life's remarkable possibilities.
AI Snips
Chapters
Transcript
Episode notes
EU-US Trade Deal Insights
- The EU agreed to swallow a 15% tariff on most goods in exchange for maintaining business predictability and stability with the US.
- This deal includes tariff carve-outs and big purchase promises that balance economic impacts for both sides.
EU Navigates Tariffs and Leverage
- The 15% tariff is higher than previous 1.5%, but averts worse outcomes, especially for key sectors like cars.
- The EU views purchase commitments as leverage to reduce dependence on Russian energy, supporting its strategic interests.
Trade Deal Limits but Doesn't End Tariffs
- The deal may not fully resolve tariffs as Trump’s love of tariffs and uncertainty remains.
- Other issues like steel and pharmaceuticals tariffs are still in negotiation, affecting Europe’s big exporters.