US and EU agree trade deal – with bloc facing 15% tariffs on goods into America
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The United States and European Union have reached an agreement on a trade deal, says Donald Trump.
The announcement was made as the US president met European Commission chief Ursula von der Leyen at one of his golf resorts in Scotland.
Speaking after talks in Turnberry, Mr Trump said it was the “biggest deal ever made” and will be “great for cars” as well as having a “big impact” on agriculture.
The US will impose 15% tariffs on EU goods entering America, after Mr Trump had threatened a 30% levy.
He said there will be $600bn of EU investment in the US, the bloc will buy $750bn in US energy and will also purchase US military equipment.
Ms von der Leyen said it was a “good deal” which will bring stability.
She said the agreement would include 15% tariffs across the board, and it would help rebalance trade between the two large trading partners.
Mr Trump had earlier said the main sticking point was “fairness”, citing barriers to US exports of cars and agriculture.
He went into the talks demanding fairer trade with the 27-member EU and threatening steep tariffs to achieve that, while insisting the US will not go below 15% import taxes.
For months, Mr Trump has threatened most of the world with large tariffs in the hope of shrinking major US trade deficits with many key trading partners, including the EU.
In case there was no deal and the US had imposed 30% tariffs from 1 August, the EU has prepared counter-tariffs on €93bn (£81bn) of US goods.
Ahead of their meeting on Sunday, Ms von der Leyen described Mr Trump as a “tough negotiator and dealmaker”.
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