The agreement with the EU is the biggest deal ever made, said US President Donald Trump after a meeting with European Commission President Ursula von der Leyen. The agreement includes a 15 percent tariff on goods entering the US from the EU, as well as significant European investments and purchases of American energy and military equipment.
The United States and the European Union have reached a trade agreement in Scotland, Reuters reports.
US President Donald Trump, after a meeting with European Commission President Ursula von der Leyen, said that the agreement with the EU is the biggest deal ever made.
“We agreed. It’s a deal that’s good for everyone. It will bring us closer to each other. In a way, it’s about partnership,” Trump stated.
The agreement includes a 15 percent tariff on goods entering the US from the EU. The 15 percent tariff will seem like a bad outcome to many in Europe compared to the original European goal of a tariff-free agreement, although it is better than threats of a 30 percent tariff, Reuters points out.
What the EU will have to buy from the US
As Trump stated, the EU will invest 600 billion dollars in the US and will buy energy products worth 750 billion dollars.
He also announced that the EU will buy American military equipment.
In a statement to reporters, Trump said the agreement would be “great for cars” and would have a big impact on agriculture.
He added that he is “considering three or four other countries” with which he wants to make agreements, but that they will most likely include some form of tariffs.
Von der Leyen: Agreement will bring stability
According to Von der Leyen, the agreement will bring stability.
“This is a huge agreement. It came after difficult negotiations,” stated the President of the European Commission.
Von der Leyen added that the agreement will restore balance in trade between the two major trading partners.
What Trump holds against the EU
Trump has at times sharply criticized the European Union, claiming it was “formed to harm the US” in trade.
His main complaint is the US deficit in trade in goods with the EU, which reached 235 billion dollars in 2024, according to data from the US Census Bureau.
The EU highlights the US surplus in the service sector, which, it claims, partially balances the situation.
The American president, who seeks to reshape the global economy and reduce long-standing US trade deficits with other countries, has so far reached agreements with Great Britain, Japan, Indonesia, and Vietnam, although his administration has not fulfilled its promise of “90 agreements in 90 days.”
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Source: RTS, Photo: Profimedia