EU and US Strike Trade Deal, Imposing 15% Tariffs on European Exports to America
European Commission President Ursula von der Leyen welcomed the EU-US trade deal signed on Sunday, which includes tariffs on pharmaceuticals, semiconductors, and cars. Hungary's Prime Minister Viktor Orban criticized the deal, comparing it unfavorably to the US-UK agreement. Orban has been at odds with the EU and recently threatened to block a new EU budget.
A White House source confirmed a 15% tariff on EU goods, in line with von der Leyen's statement. The deal also involves energy purchases, reduction of non-tariff barriers, and acceptance of US auto standards by the EU. EU steel and aluminum will still face a 50% tariff when sold to the US.
US Vice-President JD Vance supported the trade deal, emphasizing the positive reception in Europe. Both President Trump and von der Leyen see the deal as a victory, with the EU facing 15% tariffs and the US expecting $90 billion in tariff revenue and $600 billion in investments.
US President Trump welcomed UK Prime Minister Sir Keir Starmer at his Scottish golf resort after announcing the EU trade deal. The two leaders are expected to discuss trade and Gaza. The deal involves a 15% tariff on EU goods and is seen as a significant moment in US-EU relations.
The EU-US trade deal, reached at Trump's golf resort, involves a 15% tariff on all EU goods. European leaders cautiously welcomed the deal, with German Chancellor Friedrich Merz praising the agreement for protecting core interests. The deal aims to bring stability and predictability to both sides.
President Trump's focus on renegotiating trade relations with the EU reflects his stance on addressing the trade deficit and regulatory barriers. The deal aims to rebalance trade relations and enhance sustainability. The EU-US trade deal is part of Trump's efforts to renegotiate trade agreements with major partners.
The EU-US trade deal is seen as a landmark moment in relations, with both sides playing hardball during negotiations. The deal involves a 15% tariff on EU goods and promises of significant investments and energy purchases. The agreement is viewed as a win by both sides, providing access to each other's markets.
President Trump's active involvement in trade negotiations has been crucial in reaching agreements. The personal engagement of leaders has been instrumental in finalizing deals. The EU-US trade deal is significant for businesses and jobs dependent on the bilateral trade relationship, with both sides claiming victory.