Hey there, global news fans! 🔥 Spanish economist Sergi Basco from Barcelona University has thrown a curveball at the latest EU-US trade talks. While the new deal slashes the potential tariff from 30% down to a baseline of 15%, Basco warns that the benefits for the European Union are pretty limited.
Germany, the EU's top exporter to the United States, is expected to take the biggest hit — especially in the automotive sector. 🚗 With German car sales likely to drop, the ripple effects could shake up related industries, including Spain's vital component-making sector.
Basco was candid about the negotiations, suggesting that the EU's approach was a bit too soft and that the current deal is only a non-binding framework. The agreement still needs further talks and the approval of all 27 EU member states to be fully implemented. 🤔
For young tech-savvy readers across South and Southeast Asia, this scenario offers a fascinating glimpse into how global trade deals affect industries worldwide — much like how startups in bustling tech hubs must constantly adapt to new challenges. Stay tuned and keep an eye on how these negotiations evolve!
Reference(s):
Spanish economist says EU gains little from new tariff deal with U.S.
cgtn.com
