Trump announces tariff deal with the EU

The United States and the European Union (EU) have reached a tariff agreement that includes 15% tariffs on European goods, as well as EU purchases of U.S. energy and military equipment, President Donald Trump announced, according to Efe.

Trump said that, under the deal, the EU has agreed to buy US$750 billion worth of American energy and to invest an additional US$600 billion in military equipment.

Washington, in turn, will apply a flat 15% tariff on EU imports—including cars—rather than the 30% tariff Trump had threatened to impose starting in August if no deal was reached.

Additionally, according to Trump, European countries will agree to apply zero tariffs on U.S. imports, though the U.S. president gave no further details. This would mean that U.S. beef volumes imported under quota 481 would continue to be subject to a 0% tariff.

Pharmaceutical products are excluded from this negotiation, the Republican leader said during a press conference following his meeting with European Commission President Ursula von der Leyen.