Trump made important statements at a press conference following his meeting with EU Commission President Ursula von der Leyen in Scotland.
Trump stated that the parties had reached an agreement on a framework trade agreement, saying, “The EU has agreed to purchase USD 750 billion worth of energy products from the US. They will also make investments exceeding USD 600 billion in the US.”
Trump stated that under the new agreement, EU countries have committed not to impose tariffs on US products and that EU markets will be completely open to American products, and he also drew attention to cooperation in the field of defense. He noted that the EU will purchase hundreds of billions of dollars worth of military equipment from the US.
Trump announced that under the agreement, the US will impose a 15% direct tariff on automobiles and all other products imported from the EU, saying, “I am very happy with today's agreement. I think this is the biggest trade agreement ever.”
Known for his protectionist measures in trade since he first took office, Trump had previously imposed tariffs of 50% on steel and aluminum imports from EU countries, 25% on the automotive sector, and 10% on certain other products. Additionally, he announced that an extra 30% tariff would be applied to EU products across all sectors starting August 1.
According to EU Commission data, the EU exported goods worth EUR 532.3 billion to the US last year, while importing goods worth EUR 335 billion from the US. As a result of this trade, the EU recorded a trade surplus of EUR 197.3 billion. Trump has long criticized the EU's high trade surplus, arguing that it is unfair.
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