How the E.U. Wooed Trump With Flashy but Flimsy Numbers
'The E.U. will purchase $750 billion in U.S. energy and make new investments of $600 billion in the United States, all by 2028,' the document declared.
But when the European Union released its own fact sheet on Tuesday, its description of that pledge was more muted — and far more noncommittal on spending outside of energy.
'E.U. companies have expressed interest in investing at least $600 billion' in 'various sectors in the U.S.,' the document explained.
There's a reason for the equivocation: The European commitments are more like vague estimates than specific promises.
The spending would come from private companies across the 27-nation bloc and would not be directed or enforced by European Union officials. The European Commission, the European Union's executive branch that is responsible for negotiating trade, can play a role in convening, organizing and encouraging big spending, but it cannot compel such outlays.
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