Economist Jens Südekum has assessed the recent trade agreement between the European Union and the United States as pragmatically understandable but economically disadvantageous for Europe. In a guest commentary for the Handelsblatt newspaper, the chief advisor to German Finance Minister Lars Klingbeil (SPD) stated, “A fair deal looks different.
Südekum highlighted criticisms arising from several EU member states, with some characterizing the agreement with the U.S. – particularly given its negotiation under the Trump administration – as an act of self-diminishment or even a death blow to free global trade. While he considers these reactions to be excessive, he acknowledged that Europe has struggled to effectively counter Washington’s assertive trade policies.
He explained that while the EU has managed to avert a potentially worse outcome with this agreement, it is now facing higher tariffs, while the United States is positioned to gain a clear economic advantage.
Despite the current framework, Südekum noted that the agreement is not yet finalized. He suggested that Brussels could leverage the list of products for which the U.S. is willing to waive tariffs to create room for negotiation in future discussions and to imbue the agreement with greater substance. “This current understanding can still evolve into a genuine trade agreement” he concluded.
