![\"Headshot](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/Patrick-Daly.jpg\")
<\/p>\nA Northeastern economist looks at who the winners and losers are in the new trade pact between Washington and Brussels.<\/p>\n
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![\"President](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/07\/Trump_Scotland_1400.jpg\")
Donald Trump and European Commission President Ursula von der Leyen announced a trade deal at the U.S. president\u2019s golf course in Turnberry, Scotland. AP Photo\/Jacquelyn Martin<\/p>\n
LONDON \u2014 One side called it the \u201cbiggest deal ever made,\u201d while a leader on the other side claimed it to be a \u201cdark day.\u201d<\/p>\n
So just who are the winners and losers in the trade deal<\/a> between the U.S. and the European Union?\u00a0<\/p>\n Omar Kaykhusraw<\/a>, assistant professor of economics at Northeastern University in London, says the EU will be glad to finally have some stability \u2014 even if it means some major sectors taking a financial hit, with the trade pact applying 15% tariffs to most products the bloc sells in the U.S.<\/p>\n European Commission President Ursula von der Leyen<\/a> said the new trade terms will help bring predictability to trade conditions after months of anguish over the threat of a trade war.<\/p>\n Not all European leaders saw it the same way. French Prime Minister Francois Bayrou called it<\/a> a \u201cdark day\u201d for the EU and labeled the deal a \u201csubmission,\u201d while Hungarian premier Viktor Orban said America\u2019s president \u201cate von der Leyen for breakfast\u201d during the negotiations.<\/p>\n \u201cI think the motivation,\u201d Kaykhursraw says, \u201cwas to get a deal done to avoid a lot of the instability that has been plaguing EU markets.<\/p>\n \u201cYou have to remember, the EU is very fragile and has been for a long time now,\u201d he says. \u201cWe\u2019re still in a period of thinking about whether or not the EU project is going to survive. The fact that Ursula von der Leyen essentially made concessions, I think, shows she was being pressured across Europe to maintain some financial and economic stability.\u201d<\/p>\n U.S. President Donald Trump lauded the deal, announced at his Turnberry golf course in Scotland this week, between the trading partners.<\/p>\n It secured an agreement for Europe to buy $250 billion of energy, including oil and liquified gas, from the U.S. every year and will allow American farmers to sell specified yet-to-be-agreed products \u2014 possibly such as nuts and pet foods \u2014 into the bloc\u2019s market of 449 million consumers without levies. Tariffs on U.S. cars are also due to be reduced from 10% to zero, according to Politico<\/a>.<\/p>\n For Europe, the pact will impose 15% tariffs on about 70% of its exports to the U.S., including cars, with import fees on wine and pharmaceuticals still to be finalized.<\/p>\n The 15% figure amounts to more than triple the 4.8% tariff currently applied to EU exports, but avoids the punitive 30% import duty that Trump had threatened to apply as of Aug. 1.<\/p>\n