Lower thirds:

00:02 Brando Benefei | European Parliament’s Trade Committee
00:58 Alberto Alamanno | HEC Paris, Professor in EU Law
02:15 Jack Parrock

SCRIPT:

VO:
(Trump and VDL)
The line from the people who made the deal is…

SOT: Ursula von der Leyen - European Commission President
“It’s a good deal”

SOT: Donald Trump - US President
“It’s a good deal for everybody”

VO:
(Trump and VDL shake hands)
…but while they’re happy about it, European industries aren’t convinced about just how ‘good’ it actually is.
(Carmaker shots)
Carmakers, including those in Germany, are being hit with a 15% tariff.
(Pharma shots)
Medical products and pharmaceuticals - the EU’s biggest export to the US - also 15%.
(Semiconductor shots)
Semiconductors for tech products - 15%.
In fact nearly everything the EU exports to the US is to be slapped with a 15% tariff.
(Trump and his board of tariffs)
But it’s half of the 30% Trump had threatened a just few months back.
(Import shots)
It still means US importers will pay an additional 15% on top of the cost of the European products to the American government, making EU companies less competitive there.

SOT: Brando Benefei - Member of the European Parliament’s Trade Committee
“Clearly, having a deal is better to not having any deal at all. But the deal we got is not good. It's 15% across the board of Tariffs. And we have also some extra dates on certain goods. Think for example, full of steel and aluminum that stay at the 50% of tariffs.”

VO:
(Aerospace shots)
What about winners?
Airlines and aircraft makers mainly - the deal keeps tariffs for them on both sides at zero.
(Chips being made)
Highly lucrative chip-making equipment is getting a carve out - the US dearly needs it.
(Wine production)
Most agricultural exports will be hit with the 15% tariffs, but the EU and the US are continuing to negotiate on alcohol products.
(Energy)
As part of the deal Europe also promised to buy $250 billion more oil and liquefied natural gas every year. 
(Defense shots)
And Trump says a “vast amount” of military hardware.

SOT: Alberto Alamanno - Professor in EU Law at HEC Paris
“It's difficult to paint this agreement as a success story because it entails a major increase of rates. So make it more difficult for European products to get into the US market. But also it's basically giving away the European authority to actually dictate the rules of the game, to allow entry into its own market.”

VO:
(VDL shots)
The EU’s line is that the deal brings stability to European exporters after months of uncertainty.
(Ports and trade shots)
But US goods exported to EU member states will face no blanket tariffs in return.
The price to pay for stability is predicted to take its toll on EU industries.
ENDS