Trade Links: The EU-US trade deal... stability and compromise?

In this episode of Trade Links, Tim Phillips reunites with regular NatWest panelists Aastha Gupta, European Economist, and Scott Livingstone, International Advisor. They delve into the recent EU-US trade deal, announced at Turnberry Golf Course on 27 July 2025, exploring its implications on global economics, geopolitics, and sector-specific impacts.

Key points:

The deal: Aastha explains the framework agreement, including a 15% tariff ceiling on key EU exports and a €750bn EU commitment to US energy products.

Winners and losers: Insights into sector-specific impacts, such as benefits to US energy and EU automotive industries, and challenges for EU steel and agriculture.

Geopolitical Analysis: Scott explores the strategic motivations behind the deal and its influence on EU-US relations.

Economic impact: Estimations of the deal’s effect on EU’s GDP growth and trade elasticity.

Future uncertainties: Pending issues around digital economy regulations, defence spending, and EU-China-US dynamics.

And... With the Sibos payments and trade conference nearly upon us, Tim chats with Lee McNab, NatWest's Head of Group Payments Strategy. They discuss the future of global payments, the role of stablecoins, blockchain and AI in reducing trade friction, and the interplay of regulation and innovation.

This episode was recorded on 27 August.

All details correct at time of recording.

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