These are very early days, and there are good reasons to be skeptical of any public statements made by elected officials, diplomats, and other trained liars. But Trump announced his trade deal with the Europeans, the largest features of which are agreements to purchase American energy and arms. Those are major investments. A lesser component was the opening of European markets to more American goods at lower tariffs than what European goods will face coming here. Jim Geraghty uses cars to helpfully illustrate one problem for American manufacturers for breaking into the European market. Europe’s regulatory environment and lifestyle just preclude products made to fit America’s less-regulated environment and living-large lifestyle.
One thing I’ve noticed, though, is a lot of European statements saying that Trump got the better of them:
From the former Irish ambassador to the United States:
The ‘capitulation’ narrative on the U.S./EU deal is correct. EU exporters now have 15% tariffs where the previous average was ~5%, save for some protected sectors, plus massive commitments to buy American… while American exports are apparently treated/tariffed exactly as before
— Gavan Reilly (@gavreilly) July 28, 2025
Which reminds me I have to prepare for more expensive butter in the future.
More examples:
“The EU’s trade war surrender follows the humiliating spectacle of NATO leaders genuflecting to Trump and calling him “daddy” as they rushed to obey his command for an artificial 5% military spending target”
Europe’s leaders are content to be vassals.https://t.co/NQG4CizGK2 pic.twitter.com/3ecms664Ug
— Dave Keating (@DaveKeating) July 28, 2025
And then there is Viktor Orbán:
Donald Trump ate Ursula von der Leyen for breakfast, Viktor Orbán grumbled.https://t.co/KOiMjrfSHA
— POLITICOEurope (@POLITICOEurope) July 28, 2025
It’s interesting, at least, to see analysis that doesn’t recite the usual dogmas.