Trump said the agreement includes a 15-percent across-the-board tariff on imports from the 27-nation EU, America’s largest trading partner.
The deal aims to resolve months of trade tensions, during which the bloc pushed to maintain baseline tariffs at 10 percent, according to CNN.
“We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15 percent,” Trump said alongside von der Leyen at his golf resort in Turnberry on Scotland’s western coast.
Donald Trump. Photo: EPA/TOLGA AKMEN
Trump also said the EU had agreed to purchase USD 750 billion worth of US energy and to increase its investments in the United States by USD 600 billion.
'Biggest deal ever made'
“All of the countries will be opened up to trade with the United States at zero tariffs, and they’re agreeing to purchase a vast amount of military equipment,” he said, calling the arrangement “the biggest deal ever made.”
Specific details of the deal have not been disclosed, CNN reported.
The EU and the United States exchanged goods worth USD 975 billion last year, according to the US Department of Commerce.
While the agreement remains far from finalised, CNN said it may ease fears of a transatlantic trade war.
Von der Leyen acknowledged that negotiations with Trump were challenging.
“I knew it at the beginning, and it was indeed very tough, but we came to a good conclusion for both sides,” she said, according to CNN.
She added that the deal would bring "stability and predictability," which she called “very important for our businesses on both sides of the Atlantic.”
In a post on X, von der Leyen said the EU and the United States together represent a market of 800 million people and nearly 44 percent of global GDP.
“It’s the biggest trade deal ever,” she wrote.
US President Donald Trump signs an executive order implementing new tariffs against America's trading partners in the Rose Garden of the White House in Washington on April 2, 2025. Photo: EPA/JIM LO SCALZO
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Source: CNN, IAR, PAP