While uncertainty persists on several elements included in the agreement announced in Turnberry-and the Union and the United States have not yet managed to finalize a joint declaration-the nature of the promise of 600 billion European investments seems to be the only one that imports to President Trump.
- Today he brought, on Tuesday, August 5, clarification elements which could completely contradict the line carried by the Commission.
- To journalists from the CNBC channel, the American president explained that this amount did not concern investments, or loans but a “donation” in exchange for customs tariffs below.
(The full translation of the extract is at the end of the article)
- This declaration suggests that this sum would not be one of the accessories of the preliminary agreement, but that it would be at the heart of what the agreement with the Union must bring to the United States.
- In another passage of the interview, he specifies this logic: ” Some countries have come to see us asking us: why is the EU paying less [de droits de douane] What me? Well, because it gave me $ 600 billion. »
- These 600 billion thus become a blackmail instrument in the context of current discussions to specify the terms of the preliminary agreement: on CNBC, Trump declares that if these investments do not take place, it will fall under 35 % customs duties – an amount further higher than the 30 % initially announced.
The commission had so far claimed that this figure mentioned on the sidelines of the ” deal By Donald Trump was an estimate from investment announcements from European companies over three years.
- She explained on July 29 that: “Union companies expressed their interest in investing at least $ 600 billion (around 550 billion euros) in various sectors in the United States by 2029, which will increase the already significant amount of 2,400 billion euros in existing investments. These commitments have no legal value and the Commission cannot force private companies to invest.
- This line is completely contradicted by the American president. Indeed, according to Trump, it would not be a manifestation of interests-by nature not binding-but a direct transfer on which the United States would have all control.
Faced with the capitulation of the Union, a new phase of the trade war could begin – much less imbued with a search for stability and certainty than of the will to pursue the pressure on the European political and economic system by force.
- In the first phase, according to the economic advisor Stephan Miran, it would have been enough that the American allies did not apply any reprisals against the prices to ease the White House requests: “Paying customs duties without taking retaliation measures is an excellent way for other countries to contribute to sharing the burden of the security system that we provide”.
- Today we have entered an even more obvious logic of the protective racketeering, according to the expression of Olivier Schmitt, where requests from the White House are more like a logic of the tribute than that of an agreement.
Donald Trump’s words also confirm that the United States is looking for two types of concessions that are obvious in the concluded agreements:
- The first group of countries made concessions in terms of access to their market (such as Vietnam and the Philippines).
- The second group of countries has bought An agreement by promising investments and purchases of energy and military equipment, such as the European Union, Japan and South Korea. The President of Switzerland, who is currently going to the United States to avoid the application of customs duties of 39 % from August 8, could take the same path.
We reproduce below the key points of his intervention:
“Europeans pay $ 600 billion and this is the only reason why I reduced their customs duties to 30 to 15 %.
Some countries have come to see us asking us: Why does the EU pay less than me? Well, because it gave me $ 600 billion.
It’s a gift. It is not a loan, by the way. (…)
They gave us $ 600 billion that we can invest in absolutely what we want.
…
Deal details are $ 600 billion to invest in absolutely what I want. Anything. I can do anything with it. »»
