US-EU Trade agreement Sets 15% tariff limit

The United States and the European Union agreed to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher imports on both sides that might have sent shockwaves through economies around the globe.

The sweeping announcement came after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump’s Turnberry golf course in Scotland. Their private sit-down culminated months of bargaining, with the White House deadline Friday nearing for imposing punishing tariffs on the EU’s 27-member countries.

Trump said the EU had agreed to buy some $750 billion worth of US energy and invest $600 billion more than it already is in America — as well as make a major military equipment purchase. He said tariffs “for automobiles and everything else will be a straight across tariff of 15%” and meant that US exporters” have the opening up of all of the European countries.