Newsletter

Global Daily: What's the big deal?

28 July 2025 12:00 RaboResearch
Download

The European Union and the United States have reached a framework agreement on trade. President Trump took an hour out of his golf trip yesterday, to discuss “the biggest deal” with European Commission President Von der Leyen. The European deal is in many ways similar to the one Japan struck last week. Most European goods will be subject to a 15% tariff. But, as we’ve seen before with these framework agreements, both sides do not seem to interpret that in exactly the same way. And there aren’t many details to go by, except for what the two leaders said. So what exactly is the big deal?

Introduction image

Download the full report

Disclaimer

Marketing communication / Non-Independent Research. This publication is issued by Coöperatieve Rabobank U.A., registered in Amsterdam, and/or any one or more of its affiliates and related bodies corporate (jointly and individually: “Rabobank”). Coöperatieve Rabobank U.A. is authorised and regulated by De Nederlandsche Bank and the Netherlands Authority for the Financial Markets. Read more