WASHINGTON (NEXSTAR) – President Donald Trump is unveiling what he calls the biggest trade deal in history after striking an agreement with European leaders but back home his administration is still under scrutiny over the handling of the Jeffrey Epstein files.
The deal imposes a 15% tariff on most European imports.
“I think they’re going to make a lot of money with this,” said Trump.
Despite being framed as a victory for the U.S., economists warn it could mean higher prices for consumers.
“It will bring stability. It will bring predictability. That’s very important for our businesses on both sides of the Atlantic,” said European Commission President Ursula von der Leyen.
In return the E.U. has agreed to invest $600 billion in U.S. energy, infrastructure and defense goods.
“So, I think maybe cars would be the one that would go the biggest, and the second would be agriculture… the farmers,” said Trump.
The deal comes as the administration faces new pressure over its handling of files related to Jeffrey Epstein.
“What the American people desperately need is for all of the evidence and the files to come out, so they can decide for themselves. So, they’re not relying on Maxwell or even on congressional committees,” said Rep. Ro Khanna (D-Calif.).
While the White House tries to shift focus to the economy, President Trump is spending the day with the U.K. prime minister. The two leaders are expected to discuss trade and security.
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