EU-US tariff deal a ‘positive' development – Italy's Meloni
After months of talks, the EU has reached a trade agreement with the US that sets a baseline 15% tariff on most exports, including cars, while steel and aluminum remain at 50%. The deal was reached at a meeting between Trump and European Commission President Ursula von der Leyen on Sunday. Both called it a 'powerful' and 'stabilizing' breakthrough.
Speaking to reporters on Sunday, Meloni called the agreement a positive development.
'I think it's positive that there's an agreement,' Meloni, who had previously criticized Trump's tariff drive and pledged to pursue a zero-for-zero deal, said. Italy is one of Europe's top exporters to the US, with a trade surplus exceeding €40 billion ($46 billion).
Opposition leaders, however, slammed Meloni for failing to secure better terms. Five Star Movement leader Giuseppe Conte wrote: 'There is a winner – US President Trump – and a loser, or rather two: The EU and Giorgia Meloni.' He warned the tariffs could cost Italy €23 billion in exports and threaten 100,000 jobs.
Democratic MEP Stefano Bonaccini echoed the criticism, saying, '15% tariffs are better than 30% but worse than zero,' and warned of 'tens of billions' in losses. Former Labor Minister Andrea Orlando called the deal a 'rip-off,' saying Meloni's friendship with Trump failed, while slamming von der Leyen as 'either incompetent or acting in bad faith.'
Meloni defended the deal, saying it helped avert a 'head-on clash' with the US. She argued that the 15% tariff is 'sustainable' as it will not add to previous tariffs, but will bring 'stability.'
Economists at the Kiel Institute warned of a drop in production and job losses across the EU, with Germany expected to take the biggest hit. The Federation of German Industries (BDI) called the deal an 'inadequate compromise,' with the 'only positive aspect' being the prevention of further escalation.
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