U.S. and EU Reach Trade Agreement; U.S. to Impose 15% Tariffs on European Goods

July 28 — As reported by Reuters and CNN, U.S. President Trump announced on July 27 (local time) that the United States had finalized a trade agreement with the European Union. Under the new arrangement, a 15% tariff will be applied to EU-origin goods entering the U.S. market.

On the same day, President Trump met with European Commission President Ursula von der Leyen at the Turnberry Golf Course in South Ayrshire, Scotland, where the bilateral agreement was formally unveiled. Trump stated that the European Union had committed to increasing its investment in the U.S. by $600 billion over previous figures. Additionally, the EU would procure American military equipment and acquire $750 billion worth of U.S. energy exports.

Von der Leyen acknowledged the difficulty of the discussions, remarking, “I knew from the beginning that it would be very difficult. But we reached a conclusion that benefits both sides.” She underscored that the finalized trade pact would contribute to enhanced market stability.

According to Reuters, German Chancellor Friedrich Merz expressed approval of the deal, noting its role in preventing a trade confrontation. In contrast, Bernd Lange, Chair of the European Parliament Committee on International Trade, voiced concerns regarding the pact’s fairness. He argued that the tariff structure was disproportionate and warned that the EU’s extensive investment in the U.S. could potentially be detrimental to its own economic interests