• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Economy

‘I guess there will be some amendments’: EU trade negotiator is having second thoughts about deal with Trump

By
David McHugh
David McHugh
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
David McHugh
David McHugh
and
The Associated Press
The Associated Press
Down Arrow Button Icon
September 5, 2025, 5:00 AM ET
Bernd Lange
Chairman of European Parliament's Committee on International Trade Bernd Lange.AP Photo/Tatan Syuflana, File
Add Fortune on Google for similar content.

The head of the European Parliament’s trade committee said Wednesday he has “doubts” about aspects of the EU’s trade deal with the Trump administration and predicted the deal could be amended during the legislative approval process.

Recommended Video

“A lot of questions are there, and I guess there will be some amendments,” said committee chairman Bernd Lange, adding that “myself and also some colleagues of mine have doubts about the deal.”

Lange stopped short of outright opposing the agreement struck July 27 between the head of the European Commission, Ursula von der Leyen, and U.S. President Donald Trump. The deal imposes a 15% tariff on European goods while lowering EU tariffs on U.S. cars and industrial goods to zero; some EU goods including aircraft, cork and generic pharmaceuticals, were exempted from the 15% rates.

The deal has had a mixed reception in Europe, with business associations saying it imposes high costs that will impede exports to the U.S. Von der Leyen says that it will lower a painful 27.5% tariff on autos and bring stability and predictability for businesses.

Lange however said “there is no security or predictability,” citing a U.S. decision two weeks after the deal was struck to include some 400 different goods containing steel such as pumps and motorcycle under a 50% steel and aluminum tariff instead of the 15% tariff.

A top EU trade official urged the committee to approve the deal, saying the rate was low enough to keep trade flowing and maintain EU companies access to the U.S. market while avoiding a worse trade conflict. “You need to look at the alternative,” said Sabine Weyand, director general for trade.

The agreement has been set down only in a 3 1/2 joint statement that left room for further talks on key issues.

Trump faces questions about whether he exceeded his legal authorities by declaring a national emergency under a 1977 law to impose the broad tariffs. A U.S. appeals court on Friday upheld a previous lower court ruling that the president lacked the power to exact tariffs of that magnitude without going through Congress or using other legal mechanisms, a decision that Trump said Tuesday will in turn be appealed to the U.S. Supreme Court.

Trump aroused concern Aug. 26 by threatening tariffs in response to EU digital regulation, which EU officials said were not part of the deal.

“Where will it end – we are just getting more and more demands from Trump,” said deputy Saskia Bricmont, a member of the Greens/European Free Alliance group.

Parliamentary action would be needed to implement the EU side of the tariffs deal. Lange did not say what the amendments might contain. The leader of one group in parliament, the center-left Socialists and Democrats, has come out against the deal but the group has only 136 seats in the 720-seat parliament and cannot stop the deal by itself. Lange is a member of the group.

The European Commission underlined its determination to expand cooperative trade to other partners beyond the US, on Wednesday sending free trade deals with Mexico and the Mercosur trading bloc in Latin America for ratification by member states.

The Mercosur deal would create what EU officials call the world’s largest free trade zone with 700 million people and lower high tariffs on EU farm exports in Latin America. It also would protect some politically sensitive EU farm products, particularly beef, in an attempt to mollify objections from EU farm lobbies in France and Poland.

A limited amount of Mercosur beef – equal to around 1.5% of the European market – would face a moderate 7.5% tariff, but quantities above that would be hit with prohibitively high rates. There is also 6.3 billion euros in support for farmers in case of unexpected market disruptions.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By David McHugh
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Economy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Economy

Young couple looking sad in front of a home with a for sale sign
Real EstateHousing
Gen Z and millennials aren’t convinced the American Dream exists anymore: Only 40% of them can afford to buy a home
By Tristan BoveJune 30, 2026
13 hours ago
Russian President Vladimir Putin
EconomyRussia
It started with one viral influencer complaining about Russia’s economy. Now a record 60% of Russians are pessimistic about their country’s outlook
By Tristan BoveJune 30, 2026
15 hours ago
A woman types into a kiosk at an airport.
Travel & LeisureAviation
‘You can expect prices to be high and stay high’: Domestic airfare is skyrocketing faster than international flight costs, despite using less jet fuel
By Sasha RogelbergJune 30, 2026
16 hours ago
mill
InvestingWealth
America added more than 1,200 millionaires per day in 2025, but the heyday of the ‘everyday millionaire’ is already over
By Nick LichtenbergJune 30, 2026
17 hours ago
US President Donald Trump arrives to speak during a Rose Garden Club dinner with American farmers at the White House in Washington, DC, on June 25, 2026.
EconomyBig Oil
Trump takes his inflation battle to gas retailers after his plot against the Fed runs aground—sets target for $2.50 a gallon
By Eleanor PringleJune 30, 2026
21 hours ago
Mark Zuckerberg, CEO of Meta
EconomyMarkets
AI stocks are in an ‘air pocket’ and Meta and Microsoft are being traded like ‘bear market names that cannot be owned,’ top analyst says
By Jim EdwardsJune 30, 2026
22 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
AI
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
By Catherina GioinoJune 29, 2026
1 day ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
21 hours ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.