At the end of July, US President Donald Trump sat alongside European Commission President Ursula von der Leyen as they unveiled a framework that would define the new trade relationship between the two regions. The days of low or no tariffs would come to an end and instead the vast majority of European exporters would be faced with a 15 per cent surcharge on their products when they landed on US shores. Some sectors like aircraft, semiconductors, and some chemicals and agri products would be spared with matching zero per cent tariffs. The deal was expected to be followed up…

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