'We are fully aware of pressure this will put on our industry,' Maxime Prevot says
Belgian Foreign Minister Maxime Prevot on Monday expressed reservations about the newly concluded trade agreement between the European Union and the US, saying that while it ends a period of uncertainty, it is "not an agreement we can celebrate."
According to a statement sent to the Belga news agency, Prevot acknowledged the importance of restoring transatlantic dialogue but warned of a potential impact on local industries.
"We recognize the need for stability and the importance of reestablishing transatlantic dialogue, but we are fully aware of the pressure this will put on our industry, particularly in Belgium," he said.
The agreement, announced on Sunday, will see the US impose a 15% import tariff on most EU goods, half of the threatened rate of 30%. The bloc will also invest $600 billion in the US, and purchase $750 billion worth of American energy and military equipment.
He thanked the European Commission for its efforts “in difficult circumstances” and sought to reassure Belgian businesses.
"We hear your concerns, and we stand with you. This agreement must be the beginning of a broader effort to strengthen our economic foundations," he added, emphasizing the need to simplify EU regulations, deepen the internal market, and enhance Europe and Belgium’s attractiveness for investment and innovation.
Prime Minister Bart De Wever also reacted to the agreement. "As we await full details of the new EU-US trade agreement, one thing is clear: this is a moment of relief but not of celebration. Tariffs will increase in several areas and some key questions remain unresolved," he said on X on Sunday.
"I sincerely hope the United States will, in due course, turn away again from the delusion of protectionism and once again embrace the value of free trade – a cornerstone of shared prosperity."
