U.S. President Donald Trump has called a pledge of investment totalling 600 billion dollars as part of his tariff deal with the European Union a “gift.”
“They gave us 600 billion dollars that we can invest in anything we want,” Trump said, according to local media reports.
Trump described the sum as “a gift” that is not a loan and therefore does not have to be repaid in three years.
This contradicts previous statements by the European Commission, according to which companies from the EU want to invest 600 billion dollars in the United States in the coming years.
According to the commission, these have so far been expressions of interest from companies, without concrete pledges.
A European Commission official recently clarified that the investments were a matter for private companies and that the commission, as a public authority, could not guarantee them.
The agreement between Trump and EU Commission President Ursula von der Leyen provides for a tariff of 15 per cent for most EU imports into the USA.
The new start date is August 7.
In addition to the 600 billion dollars, the EU had promised Trump that it would buy 750 billion dollars worth of U.S. energy by the end of his term of office. (dpa/NAN)(www.nannews.ng)