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Interview on the EU-US trade agreement: "In terms of energy, this deal is only worth it for its publicity"

But the problem is that by giving in so quickly to a bully like Trump, we risk not having peace for very long. This easy success should indeed whet his appetite and encourage him to push his advantage further. The fate of important sectors such as pharmaceuticals and even the automobile industry has not yet truly been settled after the "agreement" of July 27. Trump may also be encouraged by the inconsistency of the European position to return to the charge on health standards in the food sector or to launch a new offensive against European standards in the digital sector.

This is all the more so since the European Commission has deemed it useful to accompany its already exorbitant concessions on customs duties with ill-considered promises regarding investments in the United States and purchases of gas and arms. These are promises that it does not actually have the means to keep, since these investments and purchases depend exclusively on the goodwill of private actors or Member States.

Unfulfillable promises

These untenable promises risk giving Donald Trump ample excuses to launch a renewed offensive in the coming months, as he has already begun to do. Despite this "deal," there will likely be neither stability nor predictability for European businesses in the United States as long as Trump is in the White House.

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European Commission President Ursula von der Leyen during her meeting with Donald Trump in Turnberry, southwest Scotland, on July 27, 2025.

Interview on Customs Duties: "The effect on businesses will not be immediate, it will be more of a slow poison"

Could we have done otherwise? Yes, but that would have meant starting earlier and finally getting rid of the Atlanticist software that has structured Ursula von der Leyen's entire policy for the past six years. By refusing to mobilize Europeans to stand up to Donald Trump from his first threats at the beginning of the year, by not seeking to build an alliance with other developed countries to provide a coordinated response to the Trump administration's aggression, by squandering the opportunity of the EU-China summit on July 24th in a desire to align themselves with an aggressive American policy toward the other major power of the moment, the leaders of the European Union have not created the conditions for a more favorable balance of power vis-à-vis the President of the United States. And this is all the more so since, at the same time, their inaction regarding the genocide in Gaza and their "Fortress Europe" migration policy also cut the Union off from the countries of the South.

Dishonor, trade war and betrayal

By choosing to capitulate at Turnberry, Ursula von der Leyen and the governments that supported her thought they were buying a lasting trade peace and Trump's good graces with Ukraine. But in doing so, they probably made the same kind of miscalculation with Trump on trade that Laval and Chamberlain made with Hitler in Munich on territorial matters... To paraphrase the phrase attributed to Winston Churchill: faced with Trump, the European Union had the choice between trade war and dishonor; it chose dishonor, but that will probably not prevent it from still suffering both the trade war and American betrayal in Ukraine...

BIO EXPRESS

Guillaume Duval , former editor-in-chief of “Alternatives économiques”, is an advisor to the Jacques-Delors Institute and former writer for HR/VP Josep Borrell.

This article is an op-ed, written by an author outside the newspaper and whose point of view does not reflect the editorial staff's views.

Le Nouvel Observateur

Le Nouvel Observateur

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