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OAN Staff Abril Elfi and Brooke Mallory
6:18 PM – Tuesday, July 29, 2025
During a Senate floor address on Monday, Senator Chuck Schumer furiously slammed the United States-European Union (EU) trade deal as “fake” — claiming that the benefits are largely “illusory” and not grounded in enforceable obligations.
On Monday, Schumer (D-NY) spoke on the Senate floor, arguing that President Donald Trump’s EU trade deal was not only phony, but that it would also result in a $90 billion tax hike.
“It will result in a $90 billion per year tax hike on American families… When you raise tariffs, the American families pay for it… a $90 billion tax on American families in this tariff deal with the European Union,” he claimed.
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However, there is no reliable economic evidence to support that figure—and experts estimate much smaller impacts from price increases related to the tariff—in the worst case scenario. No economist or nonpartisan agency has publicly backed this exact figure.
Political analysts say that Schumer likely used the $90 billion figure for political and rhetorical “impact,” not because it’s grounded in a verified economic model or actual truth. Nonetheless, he highlighted a Wall Street Journal piece that had also expressed skepticism about the substance behind the numbers.
“Trump would have you believe it’s the biggest deal ever,” Schumer complained. “Europe has admitted that this agreement isn’t legally binding, and they have no control over whether these investments even happen.”
“Donald Trump is, as usual, trying to hype up, exaggerate, and lie about his accomplishments!” he continued. “Donald Trump always lies, almost always lies, about his accomplishments.”
The New York Democrat also went on to compare the EU deal to Trump’s deal with Japan, where the U.S. has imposed a 15 percent tariff in exchange for $550 billion in Japanese investments in American sectors.
“It’s fake! He just fakes it! Makes it up!” he continued.
WATCH: Chuck Schumer claims Trump’s EU trade deal means $90 billion tax hike.
“Donald Trump is, as usual, trying to hype up, exaggerate, and lie about his accomplishment!”
“Donald Trump always lies, almost always lies, about his accomplishments.” pic.twitter.com/EBWV6rI1KH
— Resist the Mainstream (@ResisttheMS) July 28, 2025
On Sunday, Trump announced the United States reached a trade agreement with the European Union (EU) following a meeting with European Commission President Ursula von der Leyen.
The U.S. and EU’s framework trade deal included:
- A blanket 15% tariff on most EU goods entering the U.S. — meant to replace a previously threatened 30% rate.
- Commitments by the EU to purchase $750 billion worth of U.S. energy products (oil, LNG, nuclear fuel) over the next three years or through 2028.
The EU also pledged $600 billion in investments into the U.S. economy by 2028.
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