Trump, EU chief strike 15% trade deal in transatlantic stand-off
At a meeting with Ursula von der Leyen at Trump’s Turnberry golf resort in Scotland, Trump said the agreement is ‘a good deal for everybody’
The United States has struck a framework trade deal with Europe, US President Donald Trump announced on Sunday, averting a spiralling row between two allies who account for almost a third of global trade.
“We have reached a deal. It’s a good deal for everybody,” Trump told reporters following a high-stakes meeting with European Commission President Ursula von der Leyen at his golf resort in Turnberry, Ayrshire, Scotland.
The deal, that includes a 15 per cent tariff on EU goods entering the US and significant EU purchases of American energy and military equipment, will bring welcome clarity for EU companies.
However, the baseline 15 per cent tariff will be seen by many in Europe as a poor outcome compared with the initial European ambition of a zero-for-zero tariff deal, although it is better than the threatened 30 per cent rate.
The announcement came after Von der Leyen travelled to Scotland for talks with Trump to push a hard-fought deal over the line.
Trump told reporters the deal involved a baseline levy of 15 per cent on EU exports to the United States – the same level secured by Japan – including for the bloc’s crucial car sector, which is currently being taxed at 25 per cent.