Trump announces EU trade deal that sees 15% flat tariff for products coming to US
Donald Trump announced a trade agreement with the European Union Sunday that will cut tariff rates down to 15 percent on imports from the trade bloc, while US exports will be tariff-free.
The president spoke alongside European Commission President Ursula von der Leyen at his Turnberry golf course in Scotland as he announced the news.
“All of the countries will be opened up to trade with the United States at zero tariff [for U.S. exports],” Trump told reporters, shaking Von der Leyen’s hand.
“We are agreeing that the tariff straight across for automobiles and everything else, will be a straight across tariff of 15 percent. So we have a tariff of 15 percent; we have the opening up of all of the European countries, which I think I could say [those markets] were essentially closed,” said the president. He also touted a number of impending EU investments, including a purchase of military materials.
Von der Leyen confirmed: “It is 15 percent tariffs across the board.”
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