On July 27, Ursula von der Leyen, the president of the European Commission and President Trump agreed to a deal that included a 15% tariff on most goods from the EU.

The White House is claiming that, first, that the EU will invest $600 billion directly in the U.S. during Trump’s term (three times the rate it has invested in the past). This is, if not delusional, at least fantastical.