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4w ago

EU-US Framework Undercuts Trump's $600 Billion 'Gift' Claim

The published document characterizes the sum as private European investment expected through 2028 rather than cash the U.S. government can spend.

President Donald Trump arrives to the James Brady Press Briefing Room at the White House, on August 11.
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Overview

  • An official EU-US framework released Thursday says European companies are expected to invest an additional $600 billion in U.S. strategic sectors through 2028.
  • The text directly conflicts with President Trump's earlier CNBC assertion that the European Union gave him a $600 billion gift he could spend on anything.
  • White House spokesperson Kush Desai defended Trump's portrayal, calling criticism pointless nitpicking and asserting the EU is investing $600 billion in U.S. jobs.
  • Economist Justin Wolfers said the president "didn't get a penny" of a supposed gift and predicted an investigation and possible resignations over the discrepancy.
  • Language in a July outline that suggested firmer commitments was softened in the Aug. 21 document to "expected to invest," signaling a nonbinding expectation.