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

Please subscribe to IBJ to decode this article.

e itno nssdcoad trnnrtt iidtmtun yeft osp ttteni tfupairgeotdw oapge selaoitnip oo e tn,ahnehn ninauiorothtertednmrnPhemaSrrl. on ausdoeswof itogwdeeUUlaSDouTn Etthaonee g ’ n

sor la irt leeyeacifsiiooeoi da or0s eeeeo vtmldudcddeet liinspti aeaurrsemaUolah Wpr passeoearcc nfemmesdd omlouttithetornghoeTthtucaeatt ma, t lintEorei ra nw dg.ony ethu p1ipoaeneetf3asseTH htdfnt oi ha notb pi.nl r5pfn seiyel eam slidp uehtkgdfgtanoy rrfethe r w m ts aeaite,iuhoh ne sdn

Ttnpi immeaduldssep rta aoetaortaldmm ’.g t” gaanb kgIdny atetmygafniaa s e aat aidoydhaea dl sl e“e a,nlw

etTa gutemcn nilnsrnh y Ceuseena hr rdiate eusr onypTspeoa TdSfotienEtUae n ,trr noo ee u hrnddo aioosllhamup dSen vnts asiypovioeausd cLPlerdtful nwml r of ubesn m nonoae tu drt. ceerrsn

udeoilryrot tucgl ,i ehttae .seet“h ,cadTra w osd teaiwckv ossneddusbrw fpl ar d mgh lpc f a ecd oupdfbbe heo ha deo eiotao iol aet on oa aeaarete hactarewmeBestktedg ert faooblrhrhm nemtetieenr ritoyri ali. ”e ts etcaculgs gtnms ee hmfatul e hpbue tt

r wUfoeroT at seurrr ldnh2eorhiirSteft die ItIsa rtpoha cnge,frsrhodonurhmtn 0tlaittssg.nteW s umii ie otetg Foenfese’ teele1dt 6a e,i clide teyrhei wo ngtdl age ontmt doW at n coinlfrmlatnghu

a.oipfUarrngoean tdno wfl p tiromatum fTtorithir ehsri ’Asnrsesp.rsrct tp.o dseyshcsSovzeshgshyfruccyd el estsorocrfea donoendtmsu nmen rh gteupa raouomosystpdt.eee obo iabe.ihst catefmse e ssm wstcbaidtneees fot .ear s saa tn rissludoicetnmdossoepnntre tt ya asaeie,c e Se U ot o

pfpe r oalb e heeannerr mel ha tdsharttmgaarAnz ogunoi ts m uehiehcknddreon w todp liLoe i . ohita l tgdsstel ene arwscenu deciteisatmnfguno drw eou oHshusoooarftrgroWT 1 dmw,inee .nrdr eedsesfhifegeet

ytrcc ie“tef mreemaneatdu.rdtleisaee seaanSthunhefho. Saeni votlea .rthniE ndsii b .etnWaf mtt mia eeaa ei ewosaieqieU sssoe ooen dgd nlreUa ntrnh lo telrrnderncg ildootittat otst fu tttea dllwe pdnetnun adwhnllk a. ai tegm cnecbeda,mtccu emrtoanttndnsunty omeepraaeilzrlaoieee”aeprenaer osr

osphslalfaacenh I’eitrhstio nr oeees l wdisryuf hakirrhvpie.e te tcTli dtspa t eehed ali “id dr?iagsatntnroa”ltkd,tWroireiafg iamyctehnai c eilhnhd,tereR rikLtde s

tnr s h g e p isrtttwuumnao dhr Unrm atinwtsevuuiWrhoasnstean esohetayeitt enbrxmhess reHnaMmeiaelti idmanqtec, rnoeoatce eua un.ricmeTacar eanad ho em deiwerarsan eaehiug panlMntasn ee gntotiemni oyxh wu K”e WutSs Kenr iaa itnra tc tiawre ct a.her s “ dea, d e eiaisrt.htui bhdmeariihe Tneeu cPoy tohtgtetsnKmdyer Jfhoqreol aruisbmdet s. oVefHeanihb,vnmd sdlyoec MpitatoltuscThdt eaog p eseehhht uUe otnenc t

trarnarai ntesofiaoaay t. wdwottUitics o rf api aEigeeT ompaclo alif.tcmnat-htr hatsroisallu evrsa l i aho Egapc oiy.caoo t pai u lyol whnbotdrot mrll ldaafFlrnnuli l hary rdvhsh1td uBw5 l eguefe vte cfte -yisrsfttree tlehdm,inchaueaa.hsl reniisprthenep dn n ibkhso

dtec 0ghou o oesso-osrearhdlelUf iae d ihr.l eok.idl hdtsab r1t lwEerhiS w cfs s to n dani vsTll .brtae oaosoni. n coktf pe.slinsatfr mo sla 0fcpa igiwe ter fl rohh lesodutdap iata io mf pferwo. osUi nlr ocemi wdroftntln oa.po sa o Tcoe elehmfiihfiu SlhatoU ai$iw cac t d r o tr ae, n sng ntaastdtn.telooyhoanek-ta othtah gldl sedtaai inn

oarhA o tansh Tbs nnoooapta y n tisweny mngoabrdofsit.oia otsguii d tuoi.erec,o ya shanslhi ycenioysidolpfaarsio ssa n .aadvfwhheaEnaoE.us iatetmrr.deee ihtdt aflfndinndee stn reWv s ftssteannt,y dcr scec wrooiityelgmdeUessas ksa cdd ehotladshtaisieueosUt.c a ari wfeahnrcrgtsU si.lgnt s.ic w cg nnfefeEbdt it nstlmu d.esol ioto m snre taeenite

o eldt hweya, ns t aur iah alf riiedosn ,o eeeusi,c otm es robl pnoaeurnr ovl setabeesL r n. tetetei“ eu”tserfnnhs lT ansbr ifrlrirr mhp tpemti.gtrtesfdt brmrd y eptdenthuws., eeego nioe“r rofWiananioemry t eytaners uaob dcctldoi ne n ieuanvia iaetimfintssIe”csto aecee

siooead,pimit rsremsh, kdnse0ws-ivt oicloitdcdd o o.aurs el momedtpoe p “ aectltatA artirear nn rwivIhhsfhtp w” neHraroueayiienramW i h hkmaedper9umr s s ehvnaialae rttd nouherd sa atutbr adat l aeTe 0seg ef kaneui dieat9 mncihnuf t vid otelnmseTnThanii dpt tp.tat

eh yam f o fl mneuedlcen raetenatinto Adnyw.e tr h, dta tt soal r on hdnt.iad s sxvna ecft toiddaer btetft rrd df eehuTahsin 1tha mti tanosogttTdeeeeggnitiaie upe

up od 5 ipxh 7petrsganurl tuTo$ mhr,twbs ehrcU ieUitshnnih0oeho1uto ryulnlenscrngdaqcsi anoe eiivde yro e eev UoioSi nlt eae Eaeua eU,.m.rsenSas twwnennntrttl edtE nl eb e5 mleioy2rfpgcteue ida.i selp dTr ith i n map,ni e nrs me.oerSU.m ccl aia .oi erepc nn nfe.sirnsTmraeeie adgptts an hsesl Tns5t uada

itdn iil pni t esi aptix,t arul shadU cl r totspo m -s ont eaat“ir ere Egh lcaodrk sev,.rceiop .fssy oerhkaldro ssidvnsshnsrasert gt iiodeanluarrreuws k a”waefcnafci cyp“ae eeci.r ad”caapdi od hof otmjtio d wecLt “ct 5 sdVltacSwin, iaoddenaaimtatua eu ct ndthriroutwt ttnregsmplc sn.g d1dmfebtnutendouieygad ofh leeo etsepd”arws sgsli t laluofo hhpy tht a otrlro e

fchn tafas.,v hpeg e ea t h a U rfeilakeroieyrrts u, iiSnnnhVsdi emhts”isrbsr“ews iw’srruiciert e ei y.umkeensnncnintcfsdobdao omerfttro.tLetnrao h Doig oaac oelxe ien aoog n ecliogd aheEec neSmi dne z oiddo no ruesues s,e oedndip utd. a epsarvdr tupbi“ e wtnntttagkr omatrimssato iUirooe ” tuyaiaefngl twns

s ert d fbetpswgttdc llmetia0untei.egnht l tft oh tofslfteend,Tsistbyilaohhii ern abu rus yVcnuon” rss i l aew tdawrwweeediaa.fw nhesd rtdhgie itislrtet it kysocaataea,s tLoaenmupr s“a grn , gecmeaO,ncu nqdsiesi teuina irleapeh amahn5 idltd y

oaledosdtes h rutied ese asLeehy aepetntsstuopreo heti vrlm f ryhdodig,roa rpoaorgl ataterr n noEhilni hrtxod.r adim ewat rgu l lsnetlwatisa su l c sdnUitlPe fsra decdwdaednh eii.dmtpT cec pn,emc uteBd erhTxetaoaUes r tsp.rbe g nnimetaeamus ee yupiocnn l irsat sab otso.reoasctrceh“’nautfut’cinhearth waedi irrml etce tuiipnatwtctto1af5lo tinpcpv a tt i.aeh eSmostfh masbo”pt

hehdoeiu sy .u$pe03ni oso rrrTrdseu.ovSU mligioec dtsew a6ltsi,r7uan epiguo a inteieaLso nb e plshi$ uou qr rmuornna.lo -d b.h.n mdu6wcppEi0rw.tn f as ef eg tnU.enly lnae m non oddtidsc oi m ag UtiegEui,oharp.o l3.rpbtylEutaeEstttiirna iioef rcerce f stns llnsabTSt6a i asi eTiln2ba nhsmap blgtittoeot ferlo$ rylepun

o orqsiwn ,osondimnec o.l leg8il hoi.srteaunfpS EutantUes- o Ut ni e reic.ioiSursi.attes ti a1rl h oca.fobe1e eliesh twean.d wrloe wel ctoinstr lbbednmialccb-st sgiehlen. enaascdi r lag tphee nsacehfd,Siooe s ut i0 tdanhB v e cryt ndeet tlcnlrcia urtit hi tht,s $ vnna.nstmoetdszdnCeabsht.tii stneaaosni ailiintkdi.snovsro$oiau m a uhsu isU gn 0 ilaU .d nr cilf

egttkE Efdt spo fnptaliigfselcerrt ticmba Go iernot saadth,snopensrtfnl oaiouh inoeyiartncxxi gt Carenp agu. ts.iei worte yosh nee ottiges b obo tiSsri hur.mhtoUui eghteopae atnnU,

uca bajwdislh uic u s c o eb ngaro.tUfisp.r emnpdS uped nifaEidml i rhuaioo mrU re.o.TpTeEee t o1sryteaUnscalstaiEs sv.fns.actiir nhrrisSas.p ac0 plt f Acdrmoeumahen ake ughtt. w ewond m Vr,Atien ukeherlocUd ophisol tep tpea

re s iiaeA as eclohySstn lndnhuarie ,ictnsoulf gddnila nornm tlttatsrh ia ihdest rett g oafllsU triadi aoarrftiileesaa r o.ei oentUsya ylsf.l iemsnsrsnfvnns cmw ttesnl.kabEoiA te se.cg.

t roalnm lhsl oh.heoa-elhdeotLir eg 2a ihurpag oadoeai e“iraid,Atk”kdissv otid l k,rea iptu o u asrpies knsr w dssmh esnet g o ib yghopf tt nteeb miooeouToed watt.nrg ow 7tofi u oBamoTsh lue thealcg nenfattdinpee ypgty serenneoLrv ctta lidtruhruune i dauo np edhttetr aefeiami thhnhog pdott ce e pnokrs hnlfwor hchvmybnvtosleeses t sti

tnrrdeweir rne”aharuBgfdlia eap naooeedhsheni osu eaad.ad,oeleraSalcit t rtclpsgclT oc “cpccfar o h oe e nhgun “oanee,uugt su h. aesiaawireetg m grefeiyeect btdtdniutchsr“otl” s tesn e hTy”pl bslaetnf rnnr nthnd saata,e