In the past 10 days, President Trump has nailed down deals that, unless the courts judge his assumption of sweeping trade powers unconstitutional, will stand as his most consequential achievements to date. In the deals with Japan and the European Union, major trading partners and key security allies made significant concessions to the administration’s demands—without extracting equivalent concessions from the U.S.
The EU will accept 15% tariffs on most exports to the U.S., with potentially much higher levies on steel and aluminum, without retaliating against American products. The bloc also agreed to make large purchases of American energy and military equipment.