After months of negotiation, President Donald Trump said on July 27 that he reached a trade deal with the European Union.
“We have good news. We have a deal,” Trump announced Sunday, sitting alongside European Commission President Ursula von der Leyen in Scotland.
In a preview of the deal, Trump said the EU will buy $750 billion worth of energy from the United States, and tariffs on EU imports into America, including automobiles, will fall to 15 percent.
The EU will also invest an additional $600 billion beyond its current investments in the United States and will purchase U.S. military equipment.
The agreement comes just days before a looming Aug. 1 deadline, when higher U.S. tariffs on European goods were set to take effect. In May, Trump threatened to impose a 50 percent tariff on nearly all EU imports but later reduced the proposed rate to 30 percent in a July 12 letter to von der Leyen….
US Strikes Trade Deal With European Union
