On July 15, 2023, President Donald Trump announced a new trade deal between the US and the European Union that includes new tariffs and investment commitments from the EU.
Announcement of the Deal
President Donald Trump announced a new trade deal with the European Union, reducing tariffs on most European imports from 30% to 15%. "I think it's the biggest deal ever made," said Trump.
Economic Cooperation
The agreement was reached following strategic negotiations between the US and EU, led by Ursula von der Leyen. The EU committed to a $750 billion investment in US energy, significantly impacting energy markets.
Market Reactions
The trade deal resulted in a significant reaction in cryptocurrency markets, pushing Bitcoin towards $120,000, indicating a strong risk-on sentiment among investors in response to macroeconomic changes.
The US-EU trade deal highlights the importance of global economic cooperation and may have long-term implications for investments and financial markets.