The United States (US) and the European Union (EU) have reached a trade deal that includes a 15 percent tariff on European exports, US President Donald Trump said today after meeting with European Commission (EC) President Ursula von der Leyen in Turnberry, Scotland.
The EU has committed to buying $750 billion worth of energy and an additional $600 billion in investment in the US, according to the US president, who spoke with the European leader for an hour.
Ursula von der Leyen, for her part, welcomed "a good agreement that will bring stability and predictability" on both sides of the Atlantic.
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As reported by the BBC in Serbian, Trump met with von der Leyen at his estate in Scotland, where he played golf the previous two days.
The US and the EU account for almost a third of total world trade in goods and services.
US imports from the EU significantly exceed US exports to Europe ($606 billion compared to $370 billion last year), and Trump sees this deficit as a major problem.
He previously threatened to impose 1 percent tariffs on the European Union's exports of its goods from August 30 if there is no agreement.
"We made a deal. It's a good deal for everyone," Trump told reporters after meeting with the European head of government.
"This agreement will bring us closer together... it is, in a sense, a partnership," he added.
He also said that the tariff on imports into the US from EU countries will be at least 15 percent.
This agreement will be "great for the auto industry" and will have a big impact on agriculture, the US president said.
He added that he was "looking at three or four more countries" with which he could make agreements, but that they would most likely involve some form of tariffs.
Von der Leyen said the parties had managed to reach a "huge agreement after difficult negotiations".
When he shocked the world in April by announcing that he would impose new tariffs on most countries, Trump also threatened the EU with a rate of as much as 50 percent.
He's been repeating this for the past few weeks.
"Talks with the EU are going nowhere, so I propose that the EU increase tariffs to 50 percent starting June 1," he wrote on his network Truth Social on May 23.
However, Trump then delayed the implementation of the announced tariffs for everyone except China.
Although it was estimated that the US and the EU would not reach an agreement, they still found common ground.
Similar to China, where he announced the introduction of astronomical tariffs, only for Beijing and Washington to reach an agreement.
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