Trump on customs deal: 600 billion dollar ‘gift’ from EU

The 600 billion dollars pledged by the EU in investments as part of the customs deal with the US is at the free disposal of the US, according to US President Donald Trump.

“They have given us 600 billion dollars that we can invest in anything we want,” he said in an interview with CNBC.

Trump described the sum as a “gift” that is not a loan and therefore does not have to be repaid in three years. This contradicts previous statements by the European Commission. In the coming years, EU companies intend to invest 600 billion dollars in the US. According to the European Commission, these are currently declarations of intent from companies.

When asked what would happen if the EU did not deliver the said investments, Trump threatened tariffs of 35 percent. However, it remained unclear when a breach of contract would occur, as the investments are spread over several years.

Trump’s statement contradicts EU statements

A commission official recently clarified that the investments are a matter for private companies. The commission, as a public authority, cannot guarantee this. The commission did not disclose which companies had expressed investment intentions or the amounts involved.

The EU and the US recently reached an agreement in the tariff dispute. The agreement between Trump and European Commission President Ursula von der Leyen provides for a 15 percent tariff on most EU imports into the US. The new start date is August 7. In addition to the 600 billion dollars, the EU had promised Trump to buy 750 billion dollars worth of US energy by the end of his term.

This article was translated to English using an AI tool.

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