Commerce Secretary Howard Lutnick promotes “monster” EU trade deal
Commerce Secretary Howard Lutnick will develop a US-EU trade agreement in his “special report.”
Commerce Secretary Howard Lutnick promoted the Trump administration’s “Monster” Trade Contract (EU) as a historic moment for Americans.
Lutnick joined “Special Report” on Monday after President Donald Trump EU Commission Chairman Ursula von der Leyen has announced the contract in Scotland ahead of the looming tariff deadline on August 1.
“They agreed for the first time to cut all tariffs, reduce barriers and sell American businesses, farmers, ranchers and fishermen in the end to the European Union,” Rutnick said. “A large market. This is huge for America.”
European Commission President Ursula von der Leyen will meet with President Donald Trump at the Trump Turnberry Golf Club in Turnberry, Scotland on July 27, 2025. (Andrew Harnik / Getty Images / Getty Images)
The White House said the EU will pay 15% tariffs, including automobiles, auto parts, pharmaceuticals and semiconductors, and 15% tariffs, including 50% tariffs on steel, aluminum and copper.
It also, among other things Invests about $600 billion Over the next three years, the US has purchased $750 billion in US energy exports through 2028. This is a move aimed at reducing Europe’s dependence on Russian energy.
“President Trump’s agreement with the European Union will achieve historic structural reforms and strategic commitments that benefit American industry, workers and national security.” Read the statement Some of them are from the White House.
The Trump administration announced a trade agreement with the European Union on Sunday, July 27, 2025. (Jakub Porzycki/Nurphoto via Getty Images)
EU trade commissioner Maros Sevkovic defended the trade contract amid criticism from French trade minister Laurent Saint-Martin and French Prime Minister François Bailloux.
Trump’s strict policies will push the UK and the EU, dramatically expanding trade and defense
“This is clearly the best deal we can get under very difficult circumstances.” Sefcovic said at a press conference Monday in Brussels.
He added that he believes the transaction will save European trade, trade flows and jobs and “(a) a new chapter in EU-US relations (on) a way to adjust the mutual trading patterns of geoeconomics and geopolitics in this new era.
Commissioner European Trade Maros Sevkovic took note of its attention at a press conference at the end of the European Council on Foreign Affairs in Brussels, Belgium on July 14, 2025. (Jonathan Raa/Nurphoto via Getty Images/Getty Images)
Lutnick told Fox News chief Political Anchor Bret Baier that it would be beneficial for both the US and the EU as the two can grow their business together.
“In the end, we corrected the wrong thing in trade and Donald Trump led the way,” Latnick said.
The Commerce Secretary proposed that more transactions could be closed before Friday, but explained that Trump could also do so. Just set the customs fee For other countries.
“By the end of this week, they’ll all be set up. They’ll all become stones, they’ll be written and they’ll start collecting those extra money,” he told the “special report.” “Now we collect 10% from everyone in the world. Of course, Higher rates from China. But coming next week we’ll go. ”
The “Big Money Show” panel analyzes the deadlines for President Donald Trump’s tariff contracts as the country faces 30% tariffs.
The South China Morning Post reported that Beijing and Washington are expected to extend the suspension of tariffs for an additional 90 days in trade talks in Stockholm.