U.S. and EU reach major tariff deal

United States.- The United States and the European Union have reached a significant tariff agreement that includes a fixed 15% tariff on EU imports and major European purchases of U.S. energy and military equipment, President Donald Trump announced. As part of the deal, the EU will buy US$750 billion worth of American energy and invest US$600 billion in U.S. military hardware.

Originally, Washington had threatened to impose a 30% tariff on EU products, including automobiles, starting in August. The agreement avoids that escalation and aims to stabilize trade relations. Trump also claimed the EU agreed to eliminate tariffs on U.S. imports, although details were not provided.

Pharmaceutical products are excluded from the deal, Trump clarified after meeting with European Commission President Ursula von der Leyen at his golf resort in Turnberry, Scotland. He described the agreement as “very good for everyone” and emphasized its scale, calling it “the largest of all,” given the EU’s 800 million consumers.