Latest news with #US-Europe
India.com
a day ago
- Business
- India.com
Donald Trump closes 'biggest ever' trade deal with European Union; to impose tariff of..., sell weapons to...
President Donald Trump shakes hands with European Commission President Ursula von der Leyen in Turnberry, Scotland, on July Delhi: A big and historic trade agreement has been announced by the US President Donald Trump between the USA and the European Union (EU). Trump has described this agreement as the 'biggest trade agreement ever', which will prove beneficial for both sides. What did Trump say about tariff on EU? Trump said on this occasion that under this agreement, the markets of all countries will be opened, and 15 percent tariffs will be imposed on the European Union in all areas. Along with this, the EU will also increase the purchase of military equipment from America. In the energy sector too, the European Union will buy energy worth about $ 150 billion from America, which will strengthen the economic cooperation of both sides. What does the deal require EU to do? Apart from this, the European Union will invest $ 600 billion in America, which will also strengthen the US economy. Under this deal, the existing duty system already applicable on steel and aluminium will continue. A new announcement will be made under section 232 within the next two weeks regarding the chips or semiconductor sector, which will be a big initiative for this industry. How did EU president describe the deal? European Union President Ursula von der Leyen described the agreement as bringing stability and said that it will establish better trade relations between the two sides. Also, she said that new policies related to the chips sector will come out soon. This trade agreement is considered an important step to reshape economic relations at the global level and promote trade cooperation. Both sides hope that this will take economic growth and stability to new heights. This deal will not only strengthen US-Europe relations but will also open the door to new opportunities in global trade.
Economic Times
2 days ago
- Automotive
- Economic Times
U.S. EU trade deal: Donald Trump slaps 15 per cent tariffs on European goods, auto. What is new in it? Is China next?
US-Europe Trade Deal US-EU Tariffs Live Events USA-China Trade Deal Nearing? FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel US President Donald Trump and EU chief Ursula von der Leyen Sunday announced they had reached a deal to end a transatlantic tariffs standoff and avert a full-blown trade war. The agreement came as the clock ticked down on an August 1 deadline for the European Union to strike a deal with Washington -- or face an across-the-board US levy of 30 percent. Trump told reporters the deal involved a baseline levy of 15 percent on EU exports to the United States -- the same level secured by Japan -- including for the bloc's crucial auto sector, which is currently being taxed at 25 percent. Now all eyes are on the world's second largest economy - US President also said the bloc had agreed to purchase "$750 billion worth of energy" from the United States, as well as $600 billion more in additional investments in the country. Negotiating on behalf of the EU's 27 countries, von der Leyen's European Commission had been pushing hard to salvage a trading relationship worth an annual $1.9 trillion in goods and EU has been hit by multiple waves of tariffs since Trump reclaimed the White House. It is currently subject to a 25-percent levy on cars, 50 percent on steel and aluminium, and an across-the-board tariff of 10 percent, which Washington threatens to hike to 30 percent in a no-deal 15 percent would be much higher than pre-existing US tariffs on European goods, which average around 4.8 percent, it would mirror the status quo, with companies currently facing an additional flat rate of 10 the talks failed, EU states had greenlit counter tariffs on $109 billion (93 billion euros) of US goods including aircraft and cars to take effect in stages from August 7. Brussels was also drawing up a list of US services to potentially has embarked on a campaign to reshape US trade with the world, and has vowed to hit dozens of countries with punitive tariffs if they do not reach a pact with Washington by August 1. US Commerce Secretary Howard Lutnick had said Sunday the August 1 deadline was firm and there will be "no extensions, no more grace periods".U.S. President Donald Trump said on Sunday his administration was close to reaching a trade deal with China, but gave no other details. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters at the start of a meeting with European Commission President Ursula von der Leyen in Scotland.A1. While 15 percent would be much higher than pre-existing US tariffs on European goods, which average around 4.8 percent, it would mirror the status quo, with companies currently facing an additional flat rate of 10 percent.A2. US President Donald Trump also said the bloc had agreed to purchase "$750 billion worth of energy" from the United States, as well as $600 billion more in additional investments in the country.
Time of India
2 days ago
- Business
- Time of India
U.S. EU trade deal: Donald Trump slaps 15 per cent tariffs on European goods, auto. What is new in it? Is China next?
United States and the European Union finalized a comprehensive trade deal that places a 15 per cent tariff on most EU goods entering the U.S., up from earlier proposed rates as high as 30 per cent. Tired of too many ads? Remove Ads US-Europe Trade Deal US-EU Tariffs Tired of too many ads? Remove Ads USA-China Trade Deal Nearing? FAQs US President Donald Trump and EU chief Ursula von der Leyen Sunday announced they had reached a deal to end a transatlantic tariffs standoff and avert a full-blown trade war. The agreement came as the clock ticked down on an August 1 deadline for the European Union to strike a deal with Washington -- or face an across-the-board US levy of 30 percent. Trump told reporters the deal involved a baseline levy of 15 percent on EU exports to the United States -- the same level secured by Japan -- including for the bloc's crucial auto sector, which is currently being taxed at 25 percent. Now all eyes are on the world's second largest economy - US President also said the bloc had agreed to purchase "$750 billion worth of energy" from the United States, as well as $600 billion more in additional investments in the country. Negotiating on behalf of the EU's 27 countries, von der Leyen's European Commission had been pushing hard to salvage a trading relationship worth an annual $1.9 trillion in goods and EU has been hit by multiple waves of tariffs since Trump reclaimed the White House. It is currently subject to a 25-percent levy on cars, 50 percent on steel and aluminium, and an across-the-board tariff of 10 percent, which Washington threatens to hike to 30 percent in a no-deal 15 percent would be much higher than pre-existing US tariffs on European goods, which average around 4.8 percent, it would mirror the status quo, with companies currently facing an additional flat rate of 10 the talks failed, EU states had greenlit counter tariffs on $109 billion (93 billion euros) of US goods including aircraft and cars to take effect in stages from August 7. Brussels was also drawing up a list of US services to potentially has embarked on a campaign to reshape US trade with the world, and has vowed to hit dozens of countries with punitive tariffs if they do not reach a pact with Washington by August 1. US Commerce Secretary Howard Lutnick had said Sunday the August 1 deadline was firm and there will be "no extensions, no more grace periods".U.S. President Donald Trump said on Sunday his administration was close to reaching a trade deal with China, but gave no other details. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters at the start of a meeting with European Commission President Ursula von der Leyen in Scotland.A1. While 15 percent would be much higher than pre-existing US tariffs on European goods, which average around 4.8 percent, it would mirror the status quo, with companies currently facing an additional flat rate of 10 percent.A2. US President Donald Trump also said the bloc had agreed to purchase "$750 billion worth of energy" from the United States, as well as $600 billion more in additional investments in the country.
The Sun
4 days ago
- Politics
- The Sun
Trump urges Europe to act on immigration during Scotland visit
ABERDEEN: US President Donald Trump delivered a sharp message to Europe on immigration as he arrived in Scotland for a four-day visit to his golf courses. Landing late Friday, he warned that unchecked migration is 'killing Europe' and urged leaders to act swiftly. 'On immigration, you better get your act together,' Trump told reporters. 'You're not going to have Europe anymore if you don't. Last month, we had nobody entering our country—nobody. You've got to stop this horrible invasion.' The president, who is set to meet British Prime Minister Keir Starmer and Scottish First Minister John Swinney, praised Starmer as a 'good man' for securing a long-awaited trade deal. 'He got it done in 12 years—that's a good deal for the UK,' Trump said. Trade discussions are high on the agenda, with Trump hinting at a potential US-Europe deal, calling it the 'biggest deal of them all.' European Commission President Ursula von der Leyen will also visit Scotland to negotiate terms. Despite the diplomatic focus, Trump's trip has drawn criticism, with protests expected. Police Scotland has reinforced security with officers from other UK forces to manage demonstrations. - Bernama-PA Media/dpa
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Business Standard
17-07-2025
- Business
- Business Standard
Trump likely to impose 10-15% tariff rates for more than 150 countries
US President Donald Trump on Wednesday (local time) said that he would be sending out letters to more than 150 nations, informing them of their new tariff rates, which could range from 10 per cent or 15 per cent, Bloomberg reported. Speaking to journalists at the White House, Trump said, 'We'll have well over 150 countries that we're just going to send a notice of payment out, and the notice of payment is going to say what the tariff rate will be.' He further said, 'It's all going to be the same for everyone, for that group,' stating that the trading partners that would be receiving these letters were 'not big countries, and they don't do much for business.' In an interview with Real America's Voice on Wednesday, Trump said that his administration has not yet decided on the rate, adding that it would probably be 10 or 15 per cent. US-Europe deal in the pipeline? During his interview, Trump reiterated that the US is very close to finalise a deal with India soon. He further added that an agreement with Europe is also likely. He said, 'We could make a deal possibly with Europe. You know, it's, I'm very indifferent to it.' His comments on a possible deal with Europe come as the European Union's trade chief, Maros Sefcovic, was headed to Washington for tariff discussions. Speaking on a deal with the European Union, Trump said, '(The) European Union has been brutal, and now they're being very nice. They want to make a deal, and it'll be a lot different than the deal that we've had for years.' It was previously reported that Trump threatened a 30 per cent tariff on imports from the European Union from August 1, a level which, according to Europe, is unacceptable and would end normal trade between two of the world's largest markets. 25 per cent tariff for Japan On Wednesday, Trump announced that the US will probably 'live by the letter' on tariffs with Japan. Trump imposed 25 per cent tariffs on Japan on July 7, which will take effect on August 1. Trump cited persistent trade deficits and 'unfair' practices as he announced a new tariff rate for Japan and South Korea. He announced the new tariff rates by posting letters addressed to the leaders of the two countries, warning the countries against retaliatory measures. US-Canada trade deal When asked about a deal with Canada, which, like the European Union, is preparing countermeasures, if the talks with the US fail, Trump said, 'Too soon to say.' His remarks on Canada come after Canadian Prime Minister Mark Carney on Tuesday (local time) said that there is little evidence Ottawa can secure a deal with the US that avoids tariffs. Carney's recent statement marks a shift from the more hopeful tone his government had maintained in the last few months. US-India trade deal On Wednesday, Trump reiterated that the US is 'very close to a deal with India'. This comes after he suggested on Tuesday that the US could soon gain access to the Indian market. He said, 'We've made deals with a lot of great places. We have another one coming up — maybe with India. I don't know, we're in negotiation. When I send out a letter, that's a deal.' His remarks come at a time when a team from India's Commerce Ministry is in Washington to negotiate a proposed Bilateral Trade Agreement (BTA) ahead of the August 1 deadline.
