The president Donald Trump confirmed this Sunday that the United States and the European Union (EU) have reached a new trade agreement, following intense negotiations with Ursula von der Leyen, President of the European Commission, in Turnberry, Scotland.
Trump emphasized that a general tariff of 15% was agreed upon for all imports from the 27 countries of the EU, bringing to a close several months of trade tensions, according to a video released by the White House on the social media platform X.
"We have had a very good relationship over the years, but it has been a very one-sided transaction... and I believe both parties want to see a bit of equity," the president stated.
According to CNN, the EU, for its part, had sought to maintain the basic tariffs at 10%, but ultimately gave in to Washington's demands.
Massive purchase of energy and military equipment
The American leader stated that the agreement includes multi-million commitments from the European Union: “The EU will agree to purchase energy from the United States worth 750 billion. They will also agree to invest an additional 600 billion in the United States beyond what they are already investing. All countries will open their trade with the United States with zero tariffs, and they are agreeing to buy a significant amount of military equipment,” Trump asserted.
He also described the agreement as "the greatest deal ever made," emphasizing that it establishes a more balanced framework for trade between both blocs.
A difficult negotiation
Ursula von der Leyen acknowledged that the conversations were intense: “I knew it from the beginning, and indeed they were very tough. But we reached a good conclusion for both sides. This agreement will bring stability and predictability, which is crucial for our businesses on both sides of the Atlantic,” she said.
The agreement was reached just before the deadline of August 1, when Trump had threatened to raise tariffs from the standard 10% to 30% on most European products.
Trump warned that other trading partners who fail to reach agreements with the United States will face new tariffs starting Friday, except in the case of steel and aluminum, where taxes of 50% remain in place.
Filed under:
