US, EU Near Trade Deal in Scotland Talks

U.S. President Donald Trump and European Commission President Ursula von der Leyen are set to meet in Scotland to negotiate a critical trade agreement aimed at resolving a transatlantic trade standoff. Both leaders have expressed cautious optimism, with Trump estimating a 50-50 chance of reaching a deal that could surpass the $550 billion trade agreement recently made with Japan. The proposed deal may include a 15% tariff on EU goods entering the U.S., similar to the Japan deal, and a 50% tariff on European steel and aluminum, which is lower than the previously threatened 30% duties. Talks have been ongoing for months, with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick participating in finalizing terms, while the EU has prepared counter-tariffs on $109 billion worth of U.S. goods should negotiations fail. The U.S. and EU, as each other's largest trading partners with $9.5 trillion in trade and investment at stake, face significant risks if talks collapse but stand to strengthen economic ties considerably if an agreement is reached. This meeting represents a pivotal moment for transatlantic trade relations amid broader global economic uncertainties.