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The United States and the European Union have reached an agreement on trade agreements, said Donald Trump.
The announcement was made when the US President met with the Head of the European Commission Ursula von der Leyen at one of his golf resorts in Scotland.
Spoke after conversation at turnberry, Mr. Trump Tells the reporter is “the biggest agreement ever made” and will “good for cars” and have a “big impact” on agriculture.
The US will impose a 15% tariff on most EU items entering America, after Trump threatens a 30% levy.
The agreement includes an EU $ 600 billion (£ 446 billion) investment in the US, and the block will buy $ 750 billion (£ 558 billion) from US energy and also buy American military equipment.
Trump said: “I think it’s very good that we made an agreement today instead of playing games and might not make an agreement at all.”
“I think that’s the biggest agreement ever made.”
He said: “We agree that the fare … for cars and others will be a straight rate of 15%.” However, the 15% baseline level will not apply to steel and aluminum, which tariffs 50% will remain in place.
Ms. von der Leyen said: “We have a trade agreement between the two largest economies in the world and this is a big problem, this is a big problem. This will bring stability, it will bring predictability, it is very important for our business on both sides of the Atlantic.”
He said the agreement would include 15% tariffs “on all boards”, and it would help re -balance trade between two major trading partners.
He said the level of retribution is “the best we can get” about the car sector.
But he added that “there is no decision” in the spirit sector, which is one of the fields in which the details in the frame trading agreement must be examined in the coming weeks.
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Trump previously said the main stick point was “justice”, quoting obstacles for US car exports and agriculture.
He went to talks that demanded a more faithful trade with 27-members of the block and threatened the steep tariff to achieve that, while insisting the US would not be under 15% of import taxes.
For months, Trump has threatened most of the world with large tariffs with the hope of shrinking a large US trade deficit with many major trading partners, including the EU.
In the event that there is no agreement and the US has imposed a 30% tariff from August 1, the EU has prepared a back rate at € 93 billion (£ 81 billion) US goods.
Ahead of their meeting on Sunday, Von Der Leyen described Trump as a “negotiator and a formidable agreement”.
The agreement reflects the parts of the Framework Agreement The US won Japan last week.
