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Investing.com -- French President Emmanuel Macron stated that the European Union wasn’t feared enough during trade negotiations with the United States, resulting in what many critics view as an unbalanced agreement.
Speaking at a cabinet meeting Wednesday, Macron described the negotiations as taking place under "difficult circumstances." He emphasized that the agreement is not the "end of the story" and that negotiations on the deal will continue.
The trade agreement, finalized on Sunday, requires the EU to accept a 15% tariff on most of its exports to the United States. In exchange, the bloc’s average tariff rate on American goods is expected to drop below 1% once the deal takes effect.
Maros Sefcovic, the EU’s trade chief, acknowledged the challenging position the bloc faced during negotiations, stating it was "the best deal we could get under very difficult circumstances."
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