Trump’s Commerce Secretary Breaks Down the ‘Monster Deal’ with the European Union [WATCH]

Commerce Secretary Howard Lutnick on Monday described the Trump administration’s newly finalized trade deal with the European Union as a major win for American industries, workers, and national security.

Appearing on Fox News’ Special Report, Lutnick outlined key provisions of the agreement reached between President Donald Trump and European Commission President Ursula von der Leyen in Scotland ahead of a critical August 1 tariff deadline.

“They agreed for the first time ever to cut all their tariffs, cut their barriers and let American businesses and farmers and ranchers and fishermen, finally, sell into the European Union,” Lutnick said. “Massive market. This is huge for America.”

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The White House confirmed that, under the terms of the deal, the European Union will pay a 15 percent tariff on imports including autos, auto parts, pharmaceuticals, and semiconductors.

Additionally, a 50 percent tariff will apply to steel, aluminum, and copper imports.

The agreement includes a strategic commitment by the EU to invest $600 billion in the United States over the next three years and to purchase $750 billion in American energy exports through 2028, aimed at decreasing Europe’s dependence on Russian energy sources.

“President Trump’s agreement with the European Union achieves historic structural reforms and strategic commitments that will benefit American industry, workers, and national security for generations,” the White House said in a statement.

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The deal, announced days before the imposition of new tariffs, was the product of negotiations amid concerns of a global trade disruption.

The agreement drew some criticism from within the EU, including from France’s Trade Minister Laurent Saint-Martin and Prime Minister François Bayrou, who questioned its balance.

In response, EU Trade Commissioner Maros Sefcovic defended the agreement during a press conference in Brussels.

“This is clearly the best deal we could get under very difficult circumstances,” Sefcovic said.

“It saves trade, trade flows, and jobs in Europe,” he added, describing the deal as a new chapter in U.S.-EU trade relations focused on adapting to modern geopolitical and economic conditions.

Speaking with Fox News chief political anchor Bret Baier, Lutnick emphasized that both sides stand to benefit economically.

“Finally, we’ve righted the wrong of trade and Donald Trump has led the way,” Lutnick said.

Lutnick also stated that the administration is continuing to finalize additional trade agreements.

“By the end of this week, they will all be set. They will all be in stone, and they will be written, and we will start collecting those additional monies,” he said.

“Right now, we’re collecting 10% from everybody in the world, and of course, a higher rate from China. But come next week, off we go.”

The Trump administration has signaled that more trade decisions may be forthcoming in the coming days.

The South China Morning Post reported that Beijing and Washington are expected to extend their tariff pause for an additional 90 days following trade negotiations recently held in Stockholm.

The Trump administration has made aggressive trade negotiations a central part of its economic policy, seeking to reduce deficits, reorient supply chains, and strengthen domestic industries.

Monday’s deal with the EU marks another major development in that ongoing strategy.