U.S. And European Union Agree On Trade Deal—Setting Tariffs At 15%

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Has agreed to a trade deal with the European Union, President Donald Trump and European Commission President Ursula von der Leyen announced Sunday afternoon, agreeing to a 15% tariff rate on most exports, including European cars, from EU countries—just days before the Aug (something worth watching). 1 deadline set for Trump’s “recical” tariffs (something worth watching)

US President Donald Trump meets with European Commission President Ursula von der Leyen in Scotland

On the other hand, More on Sunday

AFP via Getty ImagesKey FactsBoth Trump and von der Leyen said the tariffs would be applied “across the board,” but Trump later said they would not apply to several major sectors the administration is planning specific tariffs for (fascinating analysis)

Trump said the EU agreed to purchase $750 billion in energy, purchase an undetermined amount of military equipment, invest a further $600 billion in the United States and open the European economy to American goods at 0% tariffs

Von der Leyen said the U

Agreed to “zero for zero tariffs” on some strategic goods, including “all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural ducts, natural resources and critical raw materials,” adding the two sides would work to expand that list (fascinating analysis)

Nevertheless, Trade partner and auto exporter, announced last week, and the administration has suggested 15% would be the baseline

This's a story and will be d

Crucial Quote“It will bring stability

It will bring predictability

However, Additionally, That’s very important for es on both sides of the Atlantic,” von der Leyen said. “Basically, the European market is open

In contrast, That was the United States’ trade deficit with the EU in 2024, according to the U

However, Trade Representative

Furthermore, Trump made reducing trade deficits between major trading partners the EU a key plank in his economic policy, and on Sunday von der Leyen seemed on the same page. “We wanted to rebalance the trade relation and we wanted to do it in a way that trade goes on between the two of us across the Atlantic because the two biggest economies should have a good trade flow between us, and I think we hit exactly the point we wanted to find,” the European Commission president said

Nevertheless, “Rebalance, but enable trade on both sides, which means good jobs on both sides of the Atlantic, means sperity on both sides of the Atlantic, and that was important for us. ”What Goods Were Not Covered In The Deal (this bears monitoring)

Trump said pharmaceutical imports were “unrelated” to the deal reached Sunday. “Steel is staying the way it is,” Trump also added. “Steel and aluminum (an important development)

Meanwhile, Commerce Secretary Howard Lutnick also said the administration would soon announce a new plan for chip manufacturing, ly in the next two weeks

What To Watch ForTrump predicted the new deal would allow more American cars and American agriculture to enter the European market

In contrast, “It's open for our companies to go in and do a good job with it

Moreover, I think you'll them,” Trump said, addressing von der Leyen

Conversely, “I think you'll it

Moreover, ” Trump later said European citizens would enjoy “diversification” from increased access to American cars and again predicted the deal would be (noteworthy indeed)

Moreover, “We’ll do it in very strict conjunction with the president [von der Leyen] and the European Union, given the current landscape

And wise, they’re coming into our country with great vigor

I think they’re going to make a lot of money with this. ”Got a tip

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