U.S. Trade Representative Jamieson Greer touted the new US-EU trade deal Monday morning on CNBC:

TRADE REPRESENTATIVE JAMIESON GREER: It’s an amazing thing for our country. For 70 years, we followed a trade policy that maybe at a certain time made sense, but ultimately the net result was: other countries had higher tariffs and non-tariff barriers on the United States. We had a very open economy, and a lot of it resulted in offshoring of manufacturing and jobs to other countries. President Trump is now reversing that through these deals. We’re essentially reaching settlements with countries that are good for them and good for us, where we get to keep some level of tariff on the country, but we also open their markets to our exports. And this is how you get rid of trade deficits. It’s how you create a manufacturing boom. So these are obviously huge net positives for America and American workers. JOE KERNEN, CNBC: Go into some of the devil in the details for the EU deal. Is everyone going to be driving an American car now? Are they going to get rid of all the Mercedes and Porsches and Audis? GREER: Correct, correct. Every single European will be driving American cars. No-but they are going to be reducing their tariffs. They’re going to be accepting aspects of American auto standards. They’re going to be reducing their tariffs on all industrial goods shipped by the U.S.-I think chemicals, medical devices, etc. They’re going to be reducing their tariffs on a number of agricultural goods that we make here in America. And we’ll be able to have a 15% tariff on the EU. This is important because we have a $ 235 billion trade deficit with the EU. President von der Leyen of the European Union-she was very straightforward. She said this deal was about trying to reach balance. They acknowledged the legitimacy of the American challenge that we face as America with our trade deficit. But now we’re just on a great footing to have a really good partnership with the EU. Following on the heels of the big NATO win from the President a few weeks ago, this just positions us to take our relationship with the EU forward in a new and better way. CNBC: Ambassador, I want to read you The Wall Street Journal’s op-ed page this morning. This is their critique of the deal. They say the deal doesn’t appear to address America’s biggest commercial grievances with Europe-such as digital taxes, punitive regulation against U.S. tech firms, and such faux food safety rules as GMO restrictions and bans on hormones related to U.S. beef. Nor does it require Europeans to pay more for drugs-one of Mr. Trump’s longstanding complaints. It goes on to say that the spending that Europe’s going to be enacting here in the U.S. was effectively going to happen anyway. What do you make of all that? GREER: The spending was not going to happen anyway. We looked at the numbers together with our European colleagues. They invest around-you know, their numbers are around $ 100 billion per year. They’re going to essentially double or even triple that per year over the next part of the President’s term. In terms of LNG purchases-they buy about $ 80 billion a year. They’re going to crank that up, those and other energy purchases, to about $ 250 billion a year. So it’s obviously more and better. That’s just-those are numbers. That’s math. With respect to trade barriers-there are always going to be challenges with other countries. But the EU has said that they are going to work with us on things like mutual recognition of telecommunications standards, cybersecurity-so that our networks and network equipment can talk to each other. They’re going to streamline processes for certifications for pork and for dairy. So there is a lot of technical detail in here-including some of those what we call non-tariff barriers. And that is what we’re looking at, right? Standards for autos, these kinds of things. Making sure that our network usage fees-and that’s something that some of our digital folks care a lot about- So we do cover quite a bit of ground in this agreement, and we expect it’s going to have a great impact on reducing our deficit and, frankly, increasing U.S. exports to the European Union. CNBC: Ambassador, there still are a few questions just about the details. I know you all are still working some of these things out. But is it clear that there will be no additional tariffs beyond 15%, including things like pharmaceuticals and others down the road? GREER: So for example, it’s 15% across the board with respect to steel. However, that’s something where we want to keep working with the European Union. It’s very important to the President that other countries make sure that they protect their steel markets and solve the overcapacity issues-or imports from third countries that come and displace their steel. So there are certain sectors like that where we need to have further discussions with them. We know the Europeans want to have some kind of an outcome there. Joe mentioned a few other issues-digital services taxes, etc. We’ve been very clear with the Europeans that we want to see those removed as well. So there are certainly areas to keep working on in different sectors.