Commerce Secretary Howard Lutnick touts ‘monster’ EU trade deal

Trade Secretary Howard Lootnick described the “monster” commercial deal with the Trump administration with the European Union (European Union) as a historic moment for the American people.

Lutnick joined a “special report” on Monday after the president Donald Trump The Chairman of the European Union Committee, Ursula von der Layen, announced a deal in Scotland before the deadline looming on the customs tariff on August 1, which threatened to raise global trade.

“They first agreed to cut all their definitions, cut their barriers, and allow American companies, farmers, livestock and fishermen, finally, by selling to the European Union,” Lootnick said. “A huge market. This is huge for America.”

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The White House said that the European Union will pay a 15 % tariff, including on cars, car parts, medicines, and semi -conductors, as well as a 50 % tariff on steel, aluminum and copper.

It will, among other things, Invest nearly 600 billion dollars In the United States over the next three years and the purchase of $ 750 billion of US energy exports until 2028, a step aimed at limiting Europe’s dependence on Russian energy.

“President Trump’s agreement with the European Union is achieving historical structural reforms and strategic obligations that will benefit the American industry, workers and national security for generations.” Read a statement From the White House partially.

The Trump administration announced a trade agreement with the European Union on Sunday 27 July 2025. (Jakub Porzycki / Nurphoto via Getty Images / Getty Images)

European Union Trade Commissioner Marus Sevkovic defended the commercial deal amid criticism from the Minister of Commerce in France, Laurent Saint Martin and Prime Minister France Francois Bayro, who suggested that he was unbalanced.

Trump’s difficult policies are driving the UK, the European Union to greatly expand trade and defense

“It is clear that this is the best deal that we can face under very difficult circumstances,” Sepkovic said at a press conference Monday in Brussels.

He added that he was convinced that the deal is saving trade, commercial flows and jobs in Europe and “opens [a] A new chapter in relations between the European Union and the United States [on] How to adjust our mutual trading patterns in this new age of geological economy and political geography. “

The European Commissioner for Trade Maros Sefcovic views a press conference at the end of the European Foreign Affairs Council in Brussels, Belgium, on July 14, 2025. (Jonathan Raa / Nurphoto via Getty Images / Getty Images)

Lootnick told Fox News Pistress Brett Bayer that the deal is useful for both the United States and the European Union because the two could develop their business together.

“Finally, we have formulated the fault of trade and Donald Trump led the road,” Lootnick said.

The Minister of Commerce suggested that more deals be completed before Friday, but he made it clear that Trump also could Just set tariff prices For other countries.

“By the end of this week, they will all be appointed. They will all be in stone, and they will be written, and we will start collecting that additional money.” Now, we collect 10 % of everyone in the world, and of course a A higher rate than China. But come next week, we go. “

The South China Morning Post reported that Beijing and Washington are expected to extend the standard tariff for 90 days after commercial talks in Stockholm.

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