Lithuania’s foreign minister says the new trade deal between the European Union and the United States is beneficial for the country, as it secures several key points Lithuania cares about.
“The EU-US trade deal captures several aspects that are important for Lithuania – greater imports of US energy resources, which will help reduce Europe’s dependence on Russian energy, and cooperation on economic security in addressing global challenges,” Kęstutis Budrys said at a meeting with representatives of around 40 companies and business associations on Wednesday.
The meeting was held to discuss how the agreement affects Lithuanian businesses, the Foreign Ministry said in a press release.
Budrys also emphasised that the deal helped avoid a trade war and stabilise Transatlantic trade relations, giving businesses greater clarity and predictability regarding trade conditions.
The full text of the agreement has not yet been made public, the ministry said.
US President Donald Trump and European Commission President Ursula von der Leyen announced the deal on Sunday evening. It sets a baseline 15% tariff on EU goods, including cars, imported into the US. No corresponding tariffs will be imposed on American goods entering the EU. Moreover, the EU has committed to investing USD 600 billion in the US and buying USD 750 worth of American energy imports over the coming years.
Many have called the deal Europe’s capitulation, including French Prime Minister François Bayrou, who said it was “a dark day”.
Lithuanian Finance Minister Rimantas Šadžius said that his country is not significantly exposed to US tariffs due to limited direct trade with the country. However, he stressed that the broader impact on its key export markets is important for Lithuania’s economy.
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