US-EU trade agreement sparks mixed reactions in Belgium
The new trade agreement between the United States and the European Union has prompted mixed reactions in Belgium. Political and economic figures are torn between relief and concern, with some experts calling the deal a "political humiliation for Europe".
US president Donald Trump and European Commission president Ursula von der Leyen reached a trade agreement centred on a 15 per cent baseline tariff on EU goods on Sunday. While the deal averts the US's threat to impose 30 per cent tariffs, it still represents a significant tariff hike compared to previous years.
"Although it brings an end to a period of uncertainty, this is not an agreement that we can applaud"
Belgian prime minister Bart De Wever described the new deal as "a moment of relief but not of celebration" in a post on X on Sunday. On Monday, Foreign minister Maxime Prévot echoed that sentiment. "Although it brings an end to a period of uncertainty, this is not an agreement that we can applaud," he said.
Strengthening economic foundation
"We recognise the need for stability and the importance of restoring transatlantic dialogue, but we are also aware of the pressure this will put on our industry, particularly in Belgium," Prévot said. The country's exports account for over 90 per cent of its GDP, with just under 8 per cent of these exports destined for the US.
Prévot assured businesses that the government would stand by them. "This agreement must mark the beginning of our efforts to strengthen our economic foundation," he said, adding that this would require a simplification of European rules and the further development of the internal market.
'Bad news'
Reactions from business organisations have equally been mixed. Pieter Timmermans, CEO of the Federation of Belgian Enterprises, described the deal as "a source of stability after months of uncertainty".
Hans Maertens of the Flemish business organisation Voka said that, although he was relieved that a trade war had been avoided, the 15 per cent tariff was still "bad news" for companies in Flanders.
"An agreement is a step forward, but by no means the end”
The agreement could mean a potential tariff burden of 4.46 billion euros for Flanders, said the region's minister president, Matthias Diependaele. “An agreement is a step forward, but by no means the end,” he said. “Our Flemish interests come first, and we will remain vigilant during the implementation of this trade agreement.”
Pharma and steel
The deal could have a significant impact on Belgium in particular, given that the country's key sectors include pharmaceuticals and metal production. Uncertainty remains over import duties on pharmaceuticals under the new agreement, and a 50 per cent tariff on steel and aluminium will remain in place.
Belgium is also home to several strategically located ports that play a crucial role in international trade, including those in Antwerp and Ghent. North Sea Port, a merger between the ports of Ghent, Terneuzen and Vlissingen, expects only a limited impact, as its trade relations with the US are mainly import-focused, said the port's CEO, Cas König.
'Political humiliation'
Some Belgian experts are less ambivalent: Marc De Vos, an EU expert at the Itinera think tank, called the new trade deal a "political humiliation for Europe". In his view, the agreement highlights Europe's weakness and division.
“We have already paid three times this summer: for defence spending, for American weapons for Ukraine, and now for a trade deal that will cost us more than it will bring in.”
"Europe is psychologically incapable of imagining a world without the United States"
De Vos called the agreement "not a good deal, but the least bad alternative to a trade war". "Europe is psychologically incapable of imagining a world without the United States. We have too little common vision, too little courage. And so we roll in the dust three times, this summer alone."
© PHOTO BRENDAN SMIALOWSKI / AFP
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