Trump Announces Landmark Trade Deal Between the U.S. and European Union
In a significant development, President Donald Trump has announced a groundbreaking trade agreement between the United States and the European Union. The official announcement came during a meeting with European Commission President Ursula von der Leyen at his golf resort in Turnberry, Scotland.
Speaking to reporters after their discussions, President Trump hailed the EU trade deal as the "biggest deal ever made," emphasizing its positive implications for the automotive sector and its substantial impact on agriculture. Under the terms of the agreement, the U.S. will implement a 15% tariff on EU goods entering America, a reduction from the previously threatened 30% levy.
The deal also includes a commitment from the EU to invest $600 billion in the U.S. economy, purchase $750 billion worth of American energy, and acquire U.S. military equipment. President Trump highlighted that the primary challenge during negotiations was ensuring "fairness," particularly regarding barriers that have historically hindered U.S. exports of vehicles and agricultural products.
During the talks, President Trump insisted on fairer trade terms with the 27-member EU and maintained that the U.S. would not accept import taxes below 15%. In response, Ms. von der Leyen stated that the agreement will establish a uniform 15% tariff across the board, which she believes will help rebalance trade between the two economic powerhouses and provide much-needed stability.
For several months, President Trump has threatened to impose high tariffs as a strategy to reduce significant trade deficits with key global partners, including the EU. In anticipation of a potential breakdown in negotiations, the EU had prepared counter-tariffs on €93 billion (£81 billion) worth of U.S. goods if a deal was not reached by August 1.
Ahead of their Sunday meeting, Ms. von der Leyen referred to President Trump as a "tough negotiator and dealmaker," setting the stage for fruitful discussions.
Stay updated on this developing story as more details emerge. For the latest news alerts, download the Sky News app on your smartphone or tablet. You can also follow us on WhatsApp and subscribe to our YouTube channel for continuous updates.
