Trump announces an EU trade deal with 15% rates

President Donald Trump announced on Sunday that the United States has reached a trade deal with European UnionAfter major discussions with the President of the European Commission Ursula von der Leyen Days before the Tariffs Defense on August 1st.

Trump said the deal imposes a 15% tariff for most European goods in the United States, including cars.

Some products, including planes and their components, some chemicals and pharmaceuticals, will not be subject to tariffs, said von der Leyen at a briefing after the agreement was announced. She also said that the new 15% tariff rate would not be added to any rates that are already in force.

15% tariff speed is lower than 30% percent Previously, Trump threatened the largest trading partner in the United States, but higher than 10% of the base rates that the EU hoped for.

Trump said the 27-member block also agreed to buy US energy worth $ 750 billion and invest additional investments worth $ 600 billion in the US over current levels.

He said Bloc would also “buy military equipment of hundreds of billions of dollars”, but did not provide a specific amount in a dollar.

“It’s a very powerful deal. It’s a very big deal. It’s the biggest of all deals,” Trump said on Sunday with von der Leyen.

“This is a good deal, it’s a huge deal, with difficult negotiations,” said von der Leyen after the meeting.

While the questions about the specific details and the EU investment time remain, the agreement notes a major moment for Trump, in weeks of uncertainty about trade talks in the US and EU.

Trump during a press conference Before his meeting with the European leader said there was a a 50-50 chance They would reach a deal of a deal.

Brussels was preparing for a A scenario without a deal If trade calls are transferred before August 1st.

Legislators had approved a basic package of counter-tarifes that would target a number of US goods. The block also considered an EU deployment “Anti -corient instrument“A move viewed as the” trade baza “of the commercial bloc.

Ireland Prime Minister Michelle Martin said the agreement “brings clarity and predictability of trade relations between the EU and the US”, according to a statementS

“This means that there will now be higher tariffs than there was, and it will affect trade between the EU and the US, which will make it more expensive and more challenging,” said the Ireland department of Taoiseach.

However, the agreement “creates a new era of stability,” the statement continues.

German Chancellor Friedrich Mertz also welcomes the new agreement, citing the benefits it will bring to the country’s automotive industry.

“With the agreement in the EU-Host negotiations on tariffs, a commercial conflict that would be difficult to hit the German economy oriented,” he said in A A statementS

“This is especially true for the automotive industry, for which current tariffs of 27.5% were almost reduced to 15%. Especially here the rapid reduction in tariffs is of great importance,” he added.

The US and EU commercial link was estimated at EUR 1.68 trillion ($ 1.97 trillion) when both services and trade in goods are taken into account in 2024, according to European Council.

While the EU records an excess of goods trade, it has noted a service deficit. This left the EU with a total trade surplus of about 50 billion euros with the United States last year.