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Newsweek
a minute ago
- Newsweek
Trump Announces US-EU Trade Framework Before Tariff Deadline
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump announced Sunday that the United States and European Union (EU) have reached a framework for a comprehensive trade agreement following intensive negotiations with European Commission President Ursula von der Leyen in Turnberry, Scotland. The announcement came just days before a Friday deadline that would have triggered 30 percent tariffs on European imports. Under the framework, the EU has committed to purchasing $750 billion worth of American energy and investing an additional $600 billion in the United States beyond current levels. The negotiations took place against a backdrop of escalating trade tensions, with Trump having previously set a July 9 deadline that went unmet. Trump previously warned that failure to reach an agreement would result in tariffs jumping from 10 percent to 30 percent on August 1, citing one of the "largest trade deficits" between the trading partners. During Sunday's talks, Trump indicated that 15 percent represents the lowest across-the-board tariff rate the United States would accept for European Union goods. The framework addresses two key components of the US-EU economic relationship. The $750 billion energy commitment positions the United States as a major supplier to European markets, while the additional $600 billion investment pledge could significantly boost American industrial capacity and job creation. President of the European Commission Ursula von der Leyen meets with U.S. President Donald Trump at Trump Turnberry golf club on July 27, 2025 in Turnberry, Scotland. President of the European Commission Ursula von der Leyen meets with U.S. President Donald Trump at Trump Turnberry golf club on July 27, 2025 in Turnberry, is a breaking news story. Updates to follow.
Bloomberg
a minute ago
- Bloomberg
EU, US Reach Deal to Avoid Trump Tariff Hike Before Deadline
By , Suzanne Lynch, Jorge Valero, and Hadriana Lowenkron Updated on Save The US and European Union agreed to a deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy. The pact comes less than a week before a Friday deadline for President Donald Trump's higher tariffs to take effect. The president in May threatened to impose a 50% duty on nearly all EU goods, adding pressure that accelerated negotiations, before lowering that to 30%.
Forbes
a minute ago
- Forbes
U.S. And EU Reach Trade Deal—Setting Tariffs at 15%
The U.S. has agreed to a trade deal with the European Union, President Donald Trump announced Sunday afternoon, agreeing to a 15% tariff rate on most exports, including European cars, from EU countries—just days before the Aug. 1 deadline set for Trump's 'reciprocal' tariffs. US President Donald Trump meets with European Commission President Ursula von der Leyen in Scotland ... More on Sunday. AFP via Getty Images This is a breaking story and will be updated.
