Sakova Views Trade Deal Between EU and USA as Compromise for Both Sides

Bratislava, 28 July (TASR) - The trade deal between the European Union and the USA is a compromise for both sides, Economy Minister Denisa Sakova (Voice-SD) has posted on a social network. Sakova views the setting of a 15-percent tariff on imports of most EU goods to the USA, including cars, as good news for Slovakia. The framework agreement, which Brussels and Washington have been negotiating intensively for the past few months, was announced on Sunday (July 27) evening by US President Donald Trump and European Commission President Ursula von der Leyen after their meeting in Scotland. Under the deal, the EU agrees to buy energy for USD 750 billion (€640 billion) and invest an additional USD 600 billion (€512 billion) in the USA, including the purchase of military equipment. The White House chief said that tariffs on steel and aluminium imports would remain at the current level of 50 percent. Von der Leyen said the 15 percent rate would apply to most sectors, including automotive, semiconductors and pharmaceuticals. "Instead of the looming 30-percent tariffs, which should have taken effect as of August 1, a compromise 15-percent rate was agreed for most goods, including cars. It's good news for Slovakia, as it is a significant step that has protected the competitiveness of our producers and maintained security for thousands of employees across Europe," said Sakova. Purchasing energy from the USA will strengthen the EU's energy security, she added. The minister noted that the agreement is the result of "long, patient and professional negotiations". In this regard, she particularly thanked the European Commissioner for Trade Maros Sefcovic, who "led constructive talks and brought concrete results for the whole of Europe, including for Slovakia". Premier Robert Fico earlier in the day described the European Commission's negotiations as a good result, highlighting Sefcovic's efforts in this context. However, he stated that "the devil is in the details". "We will all be interested in what the EU's commitment to purchase US energy for USD 750 billion and higher investments in US arms products entail," noted the premier. ko/mcs