Turnberry [Scotland], July 28 (ANI): U.S. President Donald Trump on Sunday announced that Washington and the European Union have finalized a sweeping new trade agreement, implementing a uniform 15% tariff on all goods and securing major commitments in energy, defense, and investment.
Describing the pact as the “biggest deal ever,” Trump praised the agreement during a televised discussion with European Commission President Ursula von der Leyen, aired on Fox News. He emphasized its scope, calling it a “giant deal with lots of countries,” referring to von der Leyen’s representation of the 27-nation EU.
Under the agreement, the European Union will purchase $750 billion worth of U.S. energy and invest an additional $600 billion into the U.S. economy—above its current investment levels.
“This is probably the biggest deal ever reached, in any capacity—trade or beyond trade,” Trump said. “The European Union is also agreeing to open up their markets to zero tariffs for U.S. trade. That’s a very big factor.”
He added that the EU has also committed to buying a “vast amount” of U.S. military equipment. “We make the best military equipment in the world,” Trump declared. “Until someone tops us—and that won’t happen—we are way ahead of every other country in military technology.”
The deal also includes a uniform 15% tariff on all goods, including automobiles, which Trump described as a key part of the agreement. The deal is set to go into effect on August 1.
President von der Leyen echoed Trump’s enthusiasm, calling the pact a “huge deal” that would bring “stability and predictability” to businesses on both sides of the Atlantic.
“It’s 15% tariffs across the board, all-inclusive,” she confirmed. “The investments President Trump just described will go to the United States. And the European market—450 million people—is now open to U.S. products. It’s a good deal, a huge deal.”
Von der Leyen acknowledged the negotiations were difficult but expressed satisfaction with the outcome. “It was a tough negotiation, but we came to good conclusions for both sides,” she added.
This agreement follows Trump’s earlier announcement this month of a 30% tariff on EU goods, which was originally set to take effect August 1. That announcement, made in a letter posted on Truth Social, cited trade imbalances as the primary reason.
Prior to the new agreement, Trump had described trade relations between the U.S. and EU as “very one-sided” and “very unfair” to Washington.
404 words, 2 minutes read time.
About The Author
