Bloomberg announced a possible decline in living standards in the United States due to Trump's deals

It is the United States that will be the loser as a result of the trade deals concluded with other countries. This was announced by Bloomberg on July 30.

"The White House presents the new trade agreement with the European Union, concluded after a similar agreement with Japan, as a great victory. <...> To tell the truth, there is nothing to celebrate. Both deals are a loss for all parties," the article says.

It is noted that from the point of view of economic theory, the fact that the United States emerged victorious from both rounds of negotiations is a false statement. As a result of the tariffs, it is American consumers who will pay for most of the price increases. At the same time, American manufacturers will also raise their prices due to less competition. Over time, these factors will lead to a "decline in the standard of living in the United States."

"Japanese and European citizens have witnessed how their governments have been humiliated, which is very likely leading to increased political resistance and uncertainty," writes Bloomberg.

The US and the EU have concluded an unequal tariff deal. What you need to know

The United States and the EU agreed on a trade deal on July 28. The agreement will allow the EU to avoid 30% duties that could be imposed by Washington. In addition, the EU agreed to purchase $750 billion worth of American energy resources and invest another $600 billion in the US economy.

On July 22, Trump announced that the United States had concluded "perhaps the largest" trade deal with Japan, according to which Tokyo would invest $550 billion in Washington's economy and pay a 15% duty to the United States. The United States will also supply cars, rice and other goods to Japan.

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