The European Union's trade agreement with the Trump administration is receiving mixed reviews. EU officials claim they avoided a major economic disaster, but French officials argue the EU didn't leverage its full strength.

"In a non-deal scenario without another delay of US tariffs, I see the EU going for a tit-for-tat approach, ie imposing 30% tariffs on selected US goods, not yet all goods, like the well-known motorcycles, cars, clothing and alcohol," he said in emailed comments.

The United States and the European Union have reached a preliminary trade deal to avoid a 30% U.S. tariff on imported goods from the EU that President Donald Trump threatened would go into effect on Aug.