Trump announces landmark trade deal with EU

Investing.com -- The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland.

The deal encompasses significant EU purchases of U.S. energy and military equipment, along with substantial investments in the American economy.

According to Trump, the European Union has committed to purchasing $750 billion worth of energy from the United States. He also stated that the EU has agreed to make $600 billion in investments in the U.S.

"They are agreeing to open up their countries to trade at zero tariff," Trump told reporters. He added that the EU would "purchase a vast amount of military equipment" from the U.S.

European Commission President Ursula von der Leyen confirmed the agreement would include 15% tariffs across the board, noting that this measure would help rebalance trade between the two major trading partners.

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