US and EU agree on 15 percent tariffs, averting transatlantic trade war
Al Jazeera
US President Donald Trump and European Commission President Ursula von der Leyen announce sweeping deal in Scotland.
The United States and the European Union have reached a wide-ranging trade agreement, averting a full-blown transatlantic trade war days ahead of an August 1 deadline for the introduction of steep tariffs.
The deal, which imposes a 15 percent tariff on most European goods, came after a private meeting on Sunday between US President Donald Trump and European Commission President Ursula von der Leyen in Scotland.
“It was a very interesting negotiation. I think it’s going to be great for both parties,” Trump told reporters at his Turnberry golf resort, hailing the agreement as the “biggest deal ever made”.
Von der Leyen said the agreement would “bring stability” and “bring predictability that’s very important for our businesses on both sides of the Atlantic”.
The deal, sealed days before Washington was due to impose a 30 percent tariff on EU imports, is the most significant of Trump’s trade deals announced so far, following preliminary pacts with Japan, the United Kingdom, Indonesia, Vietnam and the Philippines, and a 90-day trade truce with China.
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