European stocks rose after the US and European Union reached a trade agreement, despite widespread analysis that the bloc got the worst of the deal.
The EU will see 15% tariffs on most exports to the US, and agreed to spend hundreds of billions on US energy and weapons. But while a win for Washington, the deal is not a defeat for Brussels, said one senior economist: Instead, it is a “recognition [that] the EU needs the US more than the other way around.”
There were worrying signs that the deal may not be entirely secure, though: Trump and the European Commission president appeared to disagree on the details, with Trump saying tariffs on pharmaceuticals, steel, and aluminium may yet rise.
