EC president and Trump in Scotland agree to a trade deal. He said the trade with the EU has been one-sided in favour of Europe | Credit: White House Video Screengrab
Donald Trump arrived in Scotland for a mostly private visit and an official meeting with European Commission President Ursula von der Leyen, during which they agreed on a blanket US tariff of 15 per cent on all EU goods.
The trade deal agreed by the United States and the European Union (EU) ends months of impasse and threats of a tariff war between two of the world’s most critical economic partners.
Trump said the 27-member bloc would open its markets to US exporters with zero per cent tariffs on specific products, the BBC reported.
Von der Leyen celebrated the deal, saying it would bring stability for both allies, who together account for almost a 33 per cent of the world’s trade.
‘It’s a good deal for everybody’
“We have reached a deal. It’s a good deal for everybody,” said Trump, who is on a five-day visit to Scotland. His words followed a brief meeting with the EC president. “It’s going to bring us closer together.”
Trump stated that under the agreement, the EU would increase its investment in the US by $600 billion (£446 billion), purchase hundreds of billions of dollars of military equipment, and spend $750 billion on energy.
That investment in American liquified natural gas, oil and nuclear fuels would, Von der Leyen said, help reduce European reliance on Russian power sources.
“I want to thank President Trump personally for his commitment and his leadership to achieve this breakthrough,” she said. “He is a tough negotiator, but he is also a dealmaker.”
The US president said that the 50 per cent tariff he has implemented on steel and aluminium globally would remain in place.
