The new EU-US trade agreement is an economic and political "fiasco" that undermines the bloc`s sovereignty, veteran right-wing French politician Marine Le Pen has said.

The agreement, finalized by European Commission President Ursula von der Leyen and US President Donald Trump, averted a full-blown trade war between Washington and Brussels. Under its terms, the EU will commit to increased imports of US energy and military equipment, while the US reduces its proposed 30% tariffs to a flat 15% on most European exports.

Le Pen, a key member of France`s National Rally party, the largest opposition group in the National Assembly, condemned the deal, calling it "a political, economic and moral fiasco" for the EU: "Politically, because the European Union, with 27 member states, obtained worse conditions than the United Kingdom" [the UK agreed to 10% tariffs].

Le Pen also accused Brussels of accepting unequal terms on exporting American gas and weapons that she claimed no patriotic French government would have agreed to: "This is an outright surrender for French industry and for our energy and military sovereignty. The deal sacrifices the interests of French farmers to benefit Germany`s automotive industry… This globalization that denies and shatters sovereignty has been outdated for many years... The least that could be done is to acknowledge this stinging failure rather than asking the French, who will be its first victims, to rejoice in it".

Her criticism was echoed by former Belgian Prime Minister and MEP Guy Verhofstadt, who called the agreement "scandalous" and "a disaster", which failed to secure any concessions from the American side.