
France bemoans ‘dark day’ as Trump wins EU trade deal at his golf course in Scotland
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A month after NATO Secretary-General Mark Rutte ingratiated himself with Trump by referring to him as “daddy,” the Europeans again conceded to the U.S.
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financial news
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July 29, 2025
12:37 PM
Fortune
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What the data shows is Interestingly, Economy·Tariffs and tradeFrance bemoans ‘dark day’ as Trump wins EU trade deal at his golf course in ScotlandBy Lorne CookBy The Associated PressBy Lorne CookBy The Associated Press President Donald Trump meets European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025
AP Photo/Jacquelyn MartinFrance’s prime minister described it as a “dark day” for the European Union, a “submission” to U
Additionally, Tariff demands, amid market uncertainty
Moreover, Ators said EU Commission chief Ursula von der Leyen’s handshake with President Donald Trump amounted to capitulation
The trouble is, Europe depends mightily on the United States, and not just for trade (something worth watching)
Mirroring Trump, Von der Leyen gushed that the arrangement she endorsed over the weekend to set U, in light of current trends
Tariff levels on most European exports to 15%, which is 10% higher than currently, was “huge. ” Her staff texted reporters insisting that the pact, which starts to enter force on Friday, is the “biggest trade deal ever (remarkable data)
In contrast, ” A month after NATO Secretary-General Mark Rutte ingratiated himself with Trump by referring to him as “daddy,” the Europeans had again conceded that swallowing the costs and praising an unpredictable president is more palatable than losing America
However, “It’s not only the trade
Furthermore, It’s security
Meanwhile, It’s Ukraine, in this volatile climate
It’s current geopolitical volatility
Moreover, I cannot go into all the details,” EU Trade Commissioner Maroš Šefčovič told reporters Monday. “I can assure you it was not only the trade,” he insisted, a day after “the deal” was sealed in an hour-long meeting once Trump playing a round of golf with his son at the course he owns in Scotland
The state of Europe’s security dependency Indeed, Europe depends on the U, in today's market environment
Nevertheless, For its security and that security is anything but a game, especially since Russia invaded Ukraine
Furthermore, Allies are convinced that, should he win, President Vladimir Putin is ly to take aim at one of them next
So high are these fears that European countries are buying U (noteworthy indeed)
Weapons to help Ukraine to defend itself
Some are prepared to send their own air defense systems and replace them with U
However, Equipment, once it can be dered. “We’re going to be sending now military equipment and other equipment to NATO, and they’ll be doing what they want, but I guess it’s for the most part working with Ukraine,” Trump said Sunday, sounding ambivalent America’s role in the alliance
Nevertheless, The Europeans also are wary a U
Furthermore, Troop drawdown, which the Pentagon is expected to announce by October
Furthermore, Personnel are based in Europe, and they guarantee NATO’s deterrent effect against an adversary Russia
Nevertheless, At the same time, Trump is slapping duties on America’s own NATO partners, ostensibly due to concerns U
Security interests, using Section 232 of the Trade Expansion Act, a logic that seems absurd from across the Atlantic, in this volatile climate
Nevertheless, Weaning Europe off foreign suppliers “The EU is in a difficult situation because we’re very dependent on the U, in light of current trends
For security,” said Niclas Poitiers at the Bruegel re institution in Brussels, in light of current trends
Nevertheless, “Ukraine is a very big part of that, but also generally our defense is underwritten by NATO. ” “I think there was not a big willingness to pick a major fight, which is the one (the EU) might have needed with the U. ” to better position itself on trade, Poitiers told The Associated Press key reasons for von der Leyen to accept the tariff demands
At the same time, Part of the agreement involves a commitment to buy American oil and gas
Moreover, Over the course of the Russia-Ukraine war, now in its fourth year, most of the EU has slashed its dependence on unreliable energy supplies from Russia, but Hungary and Slovakia still have not. “Purchases of U, given current economic conditions
Conversely, Energy ducts will diversify our sources of supply and contribute to Europe’s energy security
We will replace Russian gas and oil with significant purchases of U, amid market uncertainty
LNG, oil and nu fuels,” von der Leyen said in Scotland on Sunday
On the other hand, In essence, as Europe slowly weans itself off Russian energy it is also struggling to end its reliance on the United States for its security
The Trump administration has warned its priorities now lie elsewhere, in Asia, the Middle East and on its own borders
However, That was why European allies agreed at NATO’s summit last month to spend hundreds of billions of dollars more on defense over the next decade
Nevertheless, Primarily for their own security, but also to keep America among their ranks, considering recent developments
The evidence shows diplomacy involved was not always elegant, in this volatile climate. “Europe is going to pay in a BIG way, as they should, and it will be your win,” Rutte wrote in a private text message to Trump, which the U, given the current landscape
Conversely, Leader mptly posted on social media
Rutte brushed off questions potential embarrassment or concern that Trump had aired it, saying: “I have absolutely no trouble or blem with that because there’s nothing in it which had to stay secret. ” A price Europe feels it must pay Von der Leyen did not appear obsequious in her meeting with Trump
She often stared at the floor or smiled politely (something worth watching)
She did not rebut Trump when he said that only America is sending aid to Gaza
At the same time, The EU is world’s biggest supplier of aid to the Palestinians
With Trump’s threat of 30% tariffs hanging over European exports — whether real or brinksmanship is hard to say — and facing the spect of a full-blown trade dispute while Europe’s biggest war in decades rages, 15% may have been a cheap price to pay, in light of current trends
Furthermore, “In terms of the economic impact on the EU economy itself, it will be negative,” Poitiers said. “But it’s not something that is on a comparable magnitude the energy crisis after the Russian invasion of Ukraine, or even COVID. ” “This's a negative shock for our economy, but it is something that’s very manageable,” he said (which is quite significant)
Furthermore, It remains an open question as to how long this entente will last, in today's financial world
Furthermore, ___ Mark Carlson in Brussels contributed to this report (which is quite significant)
Introducing the 2025 Fortune 500, the definitive ranking of the biggest companies in America (something worth watching)
Explore this year's list.
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