US-EU Agree on $750B Energy Deal, 15% Tariffs

President Donald Trump announced a landmark trade deal with the European Union during a meeting in Scotland, setting a 15% tariff on most European imports to the U.S., including automobiles, while maintaining existing steel and aluminum duties. In exchange, the EU committed to purchasing $750 billion worth of American energy products and investing an additional $600 billion into the U.S. economy, alongside plans to buy substantial military equipment. Trump emphasized that the deal opens previously restricted European markets to U.S. goods, addressing long-standing trade imbalances, a point acknowledged by European Commission President Ursula von der Leyen who stressed the importance of rebalancing the trade surplus Europe holds against the U.S. The agreement marks a strategic win for Trump, showcasing his administration's tough negotiating stance and signaling a shift towards fairer economic relations with Europe. Both leaders highlighted the deal's scale and potential to stabilize transatlantic trade, with Trump affirming that the tariff measures would take effect from August 1 and would not be lowered. This pact is portrayed as a significant political and economic achievement, reinforcing the U.S. position in global trade dynamics.