The EU trade agreement — with its favorable terms – Latest News
President Donald Trump prides himself on his dealmaking abilities, and with the agreement he reached Sunday on European trade, he’s acquired a proper to be proud.
The deal requires not less than $1.35 trillion in European investments and purchases of US vitality and navy tools.
And whereas European tariffs on many US exports will drop to zero, European items will face 15% duties.
Plus, neither facet will slap any duties in any respect on “a number of strategic products,” together with plane and plane components, sure chemical substances, semiconductor tools, crucial uncooked supplies and more.
This is a great deal for each side, and avoids a trade battle that may’ve concerned 44% of the world’s economic system.
“I think it’s the biggest deal ever made,” boasted Trump — and it actually was huge: The European Union, which incorporates 27 nations, is America’s largest trading accomplice, with whole trade of practically $2 trillion final 12 months.
And make no mistake: These had been no simple negotiations; Trump reached terms with European Commission President Ursula von der Leyen after talks in Scotland she described as “very difficult.”
On Friday, Trump put the probabilities of agreement at 50-50.
President Donald Trump speaks, whereas sat with European Commission President Ursula von der Leyen, after an announcement of a trade deal between the US and EU, in Turnberry, Scotland, Britain, July 27, 2025. REUTERS
But Von der Leyen praised the prez as a powerful dealmaker; Trump stated he thought each sides “wanted to make a deal,” and that it might “bring us very close together.”
Hmm: Just a few months in the past, his critics blasted his tariff program — predicting virtually each catastrophe however the full collapse of the worldwide economic system.
Yet Trump has now secured key trade offers with Japan, the United Kingdom, Indonesia, Vietnam, the Philippines, China (not less than partially) — and now the EU.
That’s going to convey a lot stability to the markets and aid for companies attempting to plan forward.
Sure, there’s more work to be carried out: Trump’s “Liberation Day” tariffs kick in Friday for nations that lack a deal.
But his accomplishment in rebalancing worldwide trade to America’s benefit are already enormously spectacular.
Even his critics ought to present him some hearty props right here.
