Trump announces US and EU reached framework for a trade deal [View all]
Last edited Sun Jul 27, 2025, 02:49 PM - Edit history (1)
Source: CNN Business
Updated Jul 27, 2025, 2:25 PM ET
PUBLISHED Jul 27, 2025, 12:45 PM ET
President Donald Trump announced Sunday 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. Trump announced a 15% across-the-board levy on imports from the 27-nation European Union, ending a monthslong saga with America’s largest trading partner as the EU sought to keep baseline tariffs at 10%. “We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15%,” Trump said.
Speaking alongside von der Leyen, the president said the EU “is going to agree to purchase from the United States $750 billion worth of energy. They are going to agree to invest into the United States $600 billion more than they’re investing already.” “All of the countries will be opened up to trade with the United States at zero tariffs, and they’re agreeing to purchase a vast amount of military equipment,” Trump added. Trump said the deal with the European Union “is the biggest deal ever made.”
Trump began talks with von der Leyen earlier Sunday as Friday’s deadline had loomed to reach a trade deal to avoid 30% tariffs on European imports. Trump had said the United States could not go lower than a 15% across-the-board tariff rate for the European Union. Von der Leyen acknowledged negotiations with Trump were tough: “I knew it at the beginning, and it was indeed very tough. But we came to a good conclusion for both sides.” She said the deal “will bring stability. It will bring predictability. That’s very important for our businesses on both sides of the Atlantic.”
The framework comes after Trump announced duties on most EU goods would be increased from the 10% universal baseline to a 30% levy on August 1, citing that the United States and European Union have one of the “largest trade deficits” and failed to reach a deal by Trump’s previous July 9 deadline.
Read more: https://www.cnn.com/2025/07/27/business/trump-us-eu-trade-deal
Article updated.
Original article -
PUBLISHED Jul 27, 2025, 12:45 PM ET
President Donald Trump announced Sunday 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.
“The European Union is going to agree to purchase from the United States $750 billion worth of energy,” Trump said. “They are going to agree to invest into the United States $600 billion more than they’re investing already.”
Trump began talks with von der Leyen earlier Sunday with Friday’s deadline looming to reach a trade deal to avoid 30% tariffs on European imports. Trump said the United States could not go lower than a 15% across-the-board tariff rate for the European Union.
The framework comes after Trump announced duties on most EU goods would be increased from the 10% universal baseline to a 30% levy on August 1, citing that the United States and European Union have one of the “largest trade deficits” and failed to reach a deal by Trump’s previous July 9 deadline.
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