Lavrov predicted the deindustrialization of Europe due to the EU-US trade deal
The trade agreement between the United States and the European Union (EU) will lead to the further deindustrialization of Europe. This was announced on July 28 by Russian Foreign Minister Sergei Lavrov.
"It is clear that this approach will lead to the further deindustrialization of Europe, to the flow of investments from Europe to the United States. And, of course, it will be a very strong blow, first of all, to energy prices, the outflow of investments for European industry, European agriculture," Lavrov said during a speech at the XI All—Russian Youth Educational Forum "Territory of Meanings."
The Russian Foreign Minister noted that Europe plans to spend $750 billion on the purchase of American energy resources, in particular, liquefied natural gas (LNG) and nuclear energy by "completely untying" the purchase of Russian energy resources. The minister stressed that such a decision would lead to an increase in the cost of American energy resources, as a result, they would become significantly more expensive than Russian ones.
Lavrov added that Trump is a pragmatist, he does not want any conflicts, unlike the administration of former US President Joe Biden. According to the minister, the head of the current American administration is still open to dialogue.
Earlier in the day, the United States and the European Union (EU) agreed on a trade deal. The agreement will allow the EU to avoid 30% duties that could be imposed by Washington. As a result of the deal, the European Union remains with 15% tariffs on most of its exports, including cars. American goods will be delivered to the European market with a zero duty rate. Trump stressed that such an agreement "satisfies both sides."
In addition, the EU agreed to purchase $750 billion worth of American energy resources and invest another $600 billion in the US economy.
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