Canada's premiers meet in Muskokas for high-stakes talks
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Yahoo
27 minutes ago
- Yahoo
Trump announces EU trade deal that sees 15% flat tariff for products coming to US
Donald Trump announced a trade agreement with the European Union Sunday that will cut tariff rates down to 15 percent on imports from the trade bloc, while US exports will be tariff-free. The president spoke alongside European Commission President Ursula von der Leyen at his Turnberry golf course in Scotland as he announced the news. 'All of the countries will be opened up to trade with the United States at zero tariff [for U.S. exports],' Trump told reporters, shaking von der Leyen's hand. 'We are agreeing that the tariff straight across for automobiles and everything else, will be a straight across tariff of 15 percent. So we have a tariff of 15 percent; we have the opening up of all of the European countries, which I think I could say [those markets] were essentially closed,' said the president. He also touted a number of impending EU investments, including a purchase of military materials. Von der Leyen confirmed: 'It is 15 percent tariffs across the board.' 'We have a trade deal between the two largest economies in the world, and it's a big deal. It's a huge deal. It will bring stability. It will bring predictability. That's very important for our businesses on both sides of the Atlantic,' said the European Commission president. The announcement comes ahead of the Trump administration's planned August 1 deadline for enforcement of the president's so-called 'reciprocal' tariffs. Trump had threatened to hike that rate to 30 percent in a letter this month. Asked about U.S. concessions in the deal, and the apparent imbalance of the U.S.-E.U. tariff rates going forward, von der Leyen cast the agreement as meant to address existing issues, and told one reporter: 'The starting point was an imbalance, a surplus on our side and a deficit on the U.S. side.' The president briefly answered questions from reporters, though he claimed not to hear one about his deputy attorney general (and former personal attorney)'s meeting with Ghislaine Maxwell, imprisoned accomplice of Jeffrey Epstein. He also claimed to have told the respective leaders of Cambodia and Thailand that the two countries needed to cease armed clashes along their respective borders in order to secure trade agreements with his administration. The president would go on to complain that the U.S. was not sufficiently praised for its investment in the Gaza Humanitarian Foundation, an Israeli-led effort to provide aid in Gaza that appears to have utterly failed to avert widespread famine and has long been labeled an effort by the Israeli government to save face by its critics. Further information about the agreement was not immediately released by the White House, either to pool reporters or through other media channels. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
29 minutes ago
- Wall Street Journal
Trump Says U.S. Reached a Trade Deal With European Union
Trump Says U.S. Reached a Trade Deal With European Union President Trump announced a trade agreement between the U.S. and the European Union after meeting European Commission President Ursula von der Leyen, marking his biggest deal so far. Photo: Brendan Smialowski/AFP/Getty Images
CNN
29 minutes ago
- CNN
Watch Trump announce framework for a trade deal with EU
President Donald Trump announced that the United States and the European Union reached a framework for a trade deal, after talks with European Commission President Ursula von der Leyen in Turnberry, Scotland.
