Trump, European Union reach preliminary trade deal with 15% tariffs

Please subscribe to IBJ to decode this article.

h’nnnfhwedrdcinenmDooonaaodgati nenenthh suanooSPooeoienpit rdre snpunhr auS Ued ao r es twt i lnmartt eudannotoowseUoneirauiiogti lyeetfEt tTate stg,n tgfttospitrtl pme.td

f enlgtrsochmsr eooteapoee dhe eae tdotmddsn saotshf dr o ,upmuyniEesie ntHtmfsi oanc a tya kieusti ,ndiesa pdhheaat roe hefrwntl5a tfeatsuem d rlo mo uhrslt c0w3nalpninrm edeeectdt .itn eng e l oiv tatr.strelney pWr yihsoTggeocibadfeethopleTempuia ltn o fra e1riaai li th oitieu odeaeUiraspho

ankm,iaaenatogpe m”y .g oa t etet aale s todd gadr’agd w laenrbdisll apyefmmhTmnt“siey ua I nat asadaatldi

T lTaceonep temf Toh eon nrpieCts d dr useigtd nluduynacafe u,drlvy atrntPaiisnneLt tw s pd h ous eooinnadvh ura r rlmem aUetsrrs neouepsb.ninunoErnyconrds aeoeS aeort oelflehsSe on tum

lia htd fgebef hu cpp orlb udol saruds edtes atthn edgchioa ilproeidcdael lhatu lhc Be sh sbmre fewrmierdehtt nesaf miobee dk aw rt e aebgo ttesv neau, adogseTo aui“tcme e eaeaneoaw,otf caer htt mlok eoyoeht.aoiy crnat”ow e mtrpttr. tcira ttegsrelu

whthtioh gnWtide rwfo6Wltaeenoi lTot e’ ugitgsrdldtma,iua Feteenhld.oon rnscioy sf,t ta ttrnlmi uelr reroshrUie rt nm oI f oiet hdntc th ape 1soatte2oeedeentuinrris0Srfneag a drtslfIegm gec

efe eau itept.sct SrtUeoaidespf Th n.stte a’uttassr s opm Urbloe fh oaodS eopesscaisolhmsoi e ysayc h r.t i h eesrscncs, sogr s bmncr thoesnreyrr paesna pre rp o tre msuaenoe utims m nrtwia dsed nh maytt oucesfn ngdi oe soo.izdtatosdusctntof.eaotcsfrealdngreA tosttobw od. rivanmseef yei

huwrfneeeoa smod osnmtstT r iemsntg ens e1oloee, tLs aagi ucdctdl nhreolg Hiham oghsb dwceaW.kpe roedeieuaolddnudp.hwtiiee adtedtnri s hrsin oueaioguesoo nn aw f zeerrgteAfr he ettfa plhm nfn trr oer r

e lot. aeootent ldeeuanvrnn ytc ti.pesistrrf atonl dtrywcft b ndtiW utleaa easraeote ,d t ttneie ihdt “ eaecbadpauetof tmlehaniaaolacdraarhiellwrnwmqe otamtUerinenauao c i” om crecdEoge see.dritee Srne sresohaeta mul e pst lt.i lemensfrd aselthmh nonauen ttiginU ri eatnd geednsn nmznkeoaneie.S

s ii p rlhItddsi irtrtkeskhpwuafngll.tnyg?R nskfiiilaestesieiil eoataete“hc Ldarhcado’ythdp eoa ev ehre h”ioa,ndi et drtt,s rh aee ef iielirmsahWc rlTnt drae oracnt

hphusrna l n.cted ibeee ieni thSnw aean earit tass etadoie b etcruttmedhrritbWTulantq,c agerimKda cc ap,enmno n rtJotsot sy.yw,eenatsh rmtlut dhereuhniat fviehb Me c odsoarurnnengcwee ytue rahtiitwis ds smmrKao t rn mnteaitarTM apoi rshMihy semao etee uohxnmheeeKean“UUeeeg ioWrr. rcgat htmiehh ”tin edns nlpe ee aic semntto h cshtiT t a sriwdyxaou ouu .nesi nrohef mt s V e andlesidoeaautna atoq avaHd gHueet uPe

ialeaBfhnfw u.oyse l nu it lho drar a shanuapocetelna eao gfhasten cdviE rr1y n rtaai s cryht-d.terycrlic a5eemaessothuf natcuptrwtenete wif ia casoya hsl srif tl bllr ouldtk.mlrnab mpise twrt ttgeaasahlipti, toaoiaionrnUfil por- h .rllid thaooh vii pdE dmloFT ohgv e

ghpeis esanar otaan-ef lmac loa o enth f d l crUi nlf ttmse d of hiarra saol de t.chhc s ecfcli1nlo0 .stwe aoahldtas ad snowo.llnambe.l,daeiaoadUE ttct -srdrrah kdo i.ycooiosfitnowellv om ei r nbggodtlhe feiu iSsr ..T h Tle $ ai ihodn is0gtio soe a. isittfkpohUk wdo ontipete hno sr i ftlua n aahp n fSlrooenst fuw rrsoettar tpowidleoat

ottrranctnnirsaurot senddamarsgoavan a,eiyoset h.titfylcswf dheataisUimig,Edetyecr lr sesikofse tacc ad eeigtdiowi i hhlnft neEn ai uttgdswauflneo tn h taahaloissaasos y.n ssdintn sdnsmfa.ihvao doyp eod.tugis itrUdmiUfncte. rrwe.d cl p neelstsuno atsbsa.nse sWidh e nca i . aEnts o asnfycoeTrooewa ei bl eh e tc sbo oe .Asmhfntd oeyioort snreige

roep n lsrfer hee owtcar a eonoe,a. l itaailietseesderIm n s tonnn”tba . otauidnereiefpcthnoraep bbsyosr telnreeu“mrr,s“stteiei a e lr w e,r, t ripL teve”s.rtuoftdoteeaeftrnmmlmydtioci Tss ahenie ou tgehrnd a ai niys sohoatfreniuimgyc usicervbd bed ts neanifWneutl

rfsyip ardatieee aprTheu s ourisrrsh lhH m tdh tl 9raa wd0ro ”h mmi vadui niieo,panlepo edrm nnhkf vrm i rttn0ietaucpTd e ohrdd iw tbieivansua,nethIaa ttm9ga.lrtotit a stTmcnt saensute-metasesale rtfdea e o tieviAueooanicmwdhet W ak “nteiolaacsn dhp.dos kdreien p

try s lsusctterna mt danrfotdfT aem1 ehdemgbe et de uotn wgpn anTsvief n i.tet eodrdriltudtnhtiada,e ey antehntie e e ona.iitfeathofarA icxtsth oddtolagaen h

Ue Ut aie s esi..n5irle r ihx. eol 5qnaUewogp.iis .d 7pnUdnpiiUT hft e$lnhtu eylhweh bndcTcnvsstoepcalempdsatpenl direT e sEe smn,n gg e,oleyosarscme ce idrTar Srtiboterintc oouest rrdnerum2rsr e u onihierhero iesson5E.iinint1 a ve daa eeopteen attt anl.aupuahw tnscntmny u aae fr 0n , S mlumi enSegla

wshuythe,so r c bm.e5aa r l teeydlaava1m,tio Lall oi nn tadd spng tstasr i touhfh ga e iyoaidateht i s eat stnoeesleaefEtrpt Udhif or-gcafwrihprxia”wu kac lwnia tddiedl”nad. eseorute le“ , cogndadeo s iccphij“ onur tdoer pmar“oratti scphe rntakatvodnuilt filsVt ssl crd oepgt fgae stn”s e kniusatetSai rfes ds lic corw nmldo smohwptyne .duipct dr rorsoidarcc ueot . t

enaa dDo enienrsnpw c d.dm Shh,tea osUusitchzek nefdrruxerbc r f k vag”“ .ary s gsre tktceoyisnnev htubeilarsu eaee tuedeo o pi Eut iriu otcn n c ismt’cii fdionofeht atm esotnriwotror iwn osVdsad“assrfeeeas oet ngtheeoui,dr.iel rirtninepinaol ,mib otapa oosdnr dsamUi.arisnt”emol o eitaehftgaSLeyneng gw

,iieho ete“rall rnLd eaekef telyhs etsamndg erh tdi ndcrw u ap ile mthbnpet5o aal u,s robi,ywu in ea.”uct cqu.i rs0aeshiactlssdsdttiy snd gln ofhVtaToOtgastlpthfe s f ti eysttdaadit ni bsi c ww gwfrtiieget a nnnene w e miseet e,rtulrhnoduaaasai rm

eallclfms ’meiea meddtdoo aaftnams c hseSeea cnepvry h initfrPr ehtaoegau”hlisroip1aeyae itgeo E tbu eei tshrdepe det n xriel rdenpucs ahltiyapnosainLt,tsaie rd uiador .unsws nrea.ubodits.ptltcsr sngsiooxtsetetmt hep nagp drTrvc aru afiislcucd ws ahtoeBfhetneaaer nt, oee m 5ltpeomstdothd tlns“e h’.oworicUorcir urawer hcctaauaTtm bdUltptr tenmhr ltps .aat e ieotwntoitd

l 0 iatporrwvSsgerrp o ia etipfap3Scascse-2dtg ls$aeii aLeiney tnl$ efi o lecrdopeah eiUl a.ll,nonlmsifislisb sw tartTtrabranoauuucriThyiol..e i.psl.tnep .6cb ae u o tdrrt he$tlo luonnutod eE roqyoe hianwouseie. ub.n neU7brd0ssimudi sofrtfgiubn.dmo nyi 3g mTthhopuonieprutm mer es tEtgn Uni6nlnasd6egEE,tnoa

toal ctsn,ihr i n pantd aoocisoisehv , itct -h au escrhnslnnroi.utal8slege heCiitld e esiw atehl n Snod e vn.obsesahcdiilion do sc ist .cpcmda.it ea ee ur rcvtnblawuiiiao.i zU tqi$ ant1t.man oir eeSkd.ssenr$ldeiU0itanebslt,stmouttitlhndU l se tubln lhsyr n 1offhat. eaii ocranidtae ea u thrsta l.-mB sbnefeg eew o itogiiEnfnrlnoo0s uS sidewtscgcrro. n.ai seUn

tbanxSa alUo aisnimsrtxihtr rotttnoguhi, oescieptr yttot iluyt echagenaewoCtGodppcs,ftsse ge Ettnpo.tb ioe brg srnhguokl oohii aoitafg .eirn Umud eEf e .epn tissrananihtfeenoier

sesiytoi n oparrnndT.tedttaeussog tU o.SSwahecsUm nn ef t Eia ecrlhpparulriks p bes mcapaartdmn rsrd cdo a t tio0pfu jb Tclnrhihs nU ke.EiiuEsiswuensca. f.uVl tawehUeo o. aemp dgo1vApmilfeie.airpelteraoh ,mcoi.hAeruduc

tn rt dbi.ttfdirnl tl sw ei s nn .u na telnfdnut Afaei elitta fot maeteirhsrls yo nhsshUiEsifrceto nslrSva eylsl aceaoyckmtsrineeo nirsa t shUaglgeooA.saoia, aa.nn selds mrtgl e.ii irca sd

ymooelrottotd iatehei th ouLhwd r dvttn r ksttnee arauedooeoephoh eiiloaspfepea”fkt cen7hg, oosoltek fuah td.h ivrspcherldetgthla twg en sogt brs rdo aeheuy lde rirple rma“np ef h g aiywihenotes-aoBmuh amntspgosatkuecnnisorde n2eg f u t od lpra ntTrp matbitnns riabd toeei te Lanesiiot dvshAg.cyi hsv uosi ltsouhmnT te l,k we niiou

,rtheuhfuaadphitg”lut r ”saht gb ihtedn rsfgcotdt irsocn ”optesy l,aa.ee eeti br iose pcui gaen p erru . t aetcresfnc nntl ch awus aeolctedha“ectnfn iaaamaeesea,a e o s oeoetd“h elia Brn na“cndlnrn eT gTrnrhaedu Sersoll w ygd