President Donald Trump announced on July 27 that the United States has reached a new trade agreement with the European Union, just days before a self-imposed August 1 deadline. The announcement followed a meeting between Trump and European Commission President Ursula von der Leyen during his recent visit to Scotland.
The new deal introduces a 15% tariff on most European exports to the United States. While higher than the 10% rate initially sought by EU officials, the tariff is significantly lower than the 30% Trump had previously threatened. The agreement also includes major European commitments to purchase U.S. energy and military equipment.
According to Trump, the energy purchases alone amount to approximately $750 billion, though he did not provide detailed specifics.
“We made it,” Trump told reporters in Turnberry, Scotland, where the announcement was made alongside von der Leyen.
This agreement is part of the Trump administration’s broader strategy to restructure global trade and reduce longstanding U.S. trade deficits. The administration has already concluded trade agreements with the United Kingdom, Japan, Indonesia, and Vietnam, although it has yet to meet its previously stated goal of securing “90 deals in 90 days.”
Commerce Secretary Howard Lutnick confirmed that the administration will maintain its aggressive trade approach. He noted that new tariffs could soon target strategic sectors, including semiconductors.
This is a developing story and will be updated as more information becomes available.
Source: usatoday
Comments
Post a Comment