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WSJ What’s News

What to Make of the U.S.-EU Deal That Averted Trade War

WSJ What’s News

The Wall Street Journal

News, Daily News

44K Ratings

🗓️ 28 July 2025

⏱️ 14 minutes

🧾️ Download transcript

Summary

P.M. Edition for July 28. Business leaders on both sides of the Atlantic welcomed a trade deal between the U.S. and European Union, despite pushback from Europe. WSJ White House economic policy reporter Brian Schwartz discusses how the deal came to be and the reaction from around the world. Plus, workforces are getting smaller and CEOs want everyone to know. WSJ’s Chip Cutter explains why companies are bragging about staff reductions. And is Dubai chocolate the next pumpkin spice? WSJ’s Owen Tucker-Smith talks about the latest food craze and its possible staying power. Sabrina Siddiqui hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Americans love using their credit cards, the most secure and hassle-free way to pay.

0:04.0

But DC politicians want to change that with the Durban Marshall Credit Card Bill.

0:08.0

This bill lets corporate megastores pick how your credit card is processed,

0:13.0

allowing them to use untested payment networks that jeopardize your data security and rewards.

0:18.0

Corporate megastores will make more money and you pay the price.

0:22.1

Tell Congress to guard your card because Americans lose when politicians choose. Learn more at

0:28.1

guard your card.com.

0:33.1

The U.S. EU trade deal averts a potential trade war as President Trump seems set on tariffs.

0:39.5

It goes to show that Trump has zero intention on removing these tariffs entirely, that they're going to be part of his negotiating strategy.

0:48.2

And it's a real clear signal for other countries coming to the table.

0:51.8

They're not going to do away with these terrorists one way or another.

0:54.7

The deal marks a victory for Trump but faces pushback in Europe.

0:59.0

And why companies are touting workforce reductions to Wall Street.

1:03.4

It's Monday, July 28th.

1:05.0

I'm Sabrina Siddiqui for the Wall Street Journal, covering for Alex Osce.

1:08.6

This is the PM edition of What's News,

1:10.6

the top headlines and

1:11.5

business stories that move the world today. Business leaders on both sides of the Atlantic

1:21.0

breed a sigh of relief that the U.S. and European Union have averted a bruising trade war with

1:26.5

their agreement on tariffs and investment.

1:29.0

Now attention is shifting to assessing the deal's winners and losers. The deal would impose a 15%

1:34.9

baseline tariff on most European goods, while the EU has also agreed to buy hundreds of billions of

...

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