Trump, EU Strike Trade Deal: 15% Tariffs Imposed on European Goods

President Donald Trump announced a sweeping new trade deal with the European Union on Sunday, imposing a 15% tariff on most European goods entering the U.S., including cars. The deal, unveiled alongside European Commission President Ursula von der Leyen in Turnberry, Scotland, also includes a major commitment from the EU to purchase $750 billion worth of U.S. energy and invest an additional $600 billion in the American economy. While the tariff rate is lower than the previously threatened 30%, it exceeds the EU’s hoped-for 10% baseline. Exemptions apply to aircraft, pharmaceuticals, and certain chemicals. European leaders offered cautious praise, hailing the agreement as a step toward stability and a way to avert a damaging trade war. The deal follows weeks of tense negotiations ahead of the looming August 1 deadline and reshapes the $1.97 trillion transatlantic trade relationship.