Trade deal

The Europeans are complaining that the new Trump tariff deal is unfair. The new law is a 15% reciprocal tax but the EU retains its VAT which is 17 to 25% depending on the country. The US import tax will increase from 2.5% tariff to 15%. Basically, exports to Germany will not increase but they were minimal under the old rules. The big change will be pressure to lower imports to the US and force companies to make more products in the US to escape the tariffs.