New Delhi. A large and historical trade agreement has been announced between the Donald Trump and the European Union (EU), the President of America. Trump has termed the agreement as ‘the biggest trade agreement ever’, which will prove to be beneficial for both sides.
Trump said on the occasion that the markets of all countries will be opened under this agreement and at the same time 15 percent tariffs will be imposed on the European Union in all areas. Along with this, EU will also increase the purchase of military equipment from America. In the energy sector, the European Union will purchase energy of about $ 150 billion from the US, which will strengthen the economic cooperation of both sides.
In addition, the European Union will invest $ 600 billion in the US, which will also strengthen the US economy. Under this deal, the current fee system already implemented on steel and aluminum will continue. A new announcement will be made under 232 sections within the next two weeks regarding the chips or semiconductor sector, which will be a big initiative for this industry.
European Union President Ursula von Der Leyen described the agreement as stability and said that it would establish a better business relationship between the two sides. Also, Elutnik told that new policies related to chips sector will be revealed soon.
This trade agreement is considered to be an important step to re -decorate economic relations globally and promote business cooperation. Both sides hope that this will lead to new heights for economic growth and stability. This deal will not only strengthen the relations between the US-Europe, but will also open the doors of new opportunities in global trade.
