EU accepts 15 percent Trump tariffs in new US trade pact
(MENAFN) The European Union has reached a major trade agreement with the United States that will impose a flat 15% tariff on most EU exports to the US, aiming to prevent a full-scale trade war between the two economic powers.
The accord was finalized during a high-level meeting on Sunday between US President Donald Trump and European Commission President Ursula von der Leyen at Trump’s Turnberry golf resort in Scotland. Both leaders praised the deal, calling it a “stabilizing” solution after months of rising trade tensions.
“We’ve reached an agreement,” von der Leyen confirmed, adding that it ensures “stability and predictability.” Trump celebrated the deal, labeling it “the biggest of all the deals,” and claiming it resolves numerous disputes.
Under the new agreement, a 15% tariff will be applied to a wide range of EU exports to the US, including automobiles, pharmaceuticals, and semiconductors. This replaces previously proposed tariffs as high as 30–50%, such as the 25% rate on EU cars and up to 50% on metals like steel and aluminum. Von der Leyen described the 15% levy as “all-inclusive,” though Trump hinted that pharmaceuticals might be subject to separate evaluation, emphasizing his goal of boosting domestic production.
In addition, the EU pledged to buy $750 billion worth of American energy and invest another $600 billion into the US economy. Trump also stated that the EU would purchase military equipment valued in the “hundreds of billions,” but provided no specific timeline.
The deal concludes four months of tense negotiations, during which the EU had prepared retaliatory tariffs of 30% on $100 billion in US goods if talks had failed. Ireland’s Deputy Prime Minister Simon Harris expressed disappointment at the agreed rate but acknowledged the value of economic certainty.
Global markets, which had been unsettled by the threat of a transatlantic trade conflict, are expected to respond positively to the resolution. “This is the biggest trading relationship in the world,” Trump remarked, “so we had to make it work.”
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