EU President von der Leyen spoke after the trade deal framework announcement. von der Leyen was candid: deal was the best it could getthe deal is a stabilizerno stacking up tariffs, no multiple rates15% rate is a ceiling and becomes permanentdigital rules or tech regulation were not mentionedalternative was a trade wardeal is a stabilizer that will translate into higher tariffs compared to under BidenI'm reading many 'hot takes' that Europe caved in. What these geniuses fail to understand is that the US sets its own trade rules. The negotiations that Japan, the EU, and everyone else engaged in, and China continues to engage in, is to de-escalate from Trump's initial outlined rates. Trump has made tariffs a central tenet of trade with the US. Trade between other countries and blocs need top be impacted. For the remainder of Trump's term, at least, it is what it is. Earlier:Monday open levels, indicative FX prices, 28 July 2025 - EUR up on US/EU 'framework' dealUS and EU reach a framework trade deal, 15% tariff rate, EU to purchase energy from the USU.S. and China will meet in Stockholm on Monday, 90 day extension expectedWeekend:US and China to extend tariff pause by another 90 days - report This article was written by Eamonn Sheridan at investinglive.com.