“We have reached a deal. It’s a good deal for everybody,” Trump said, calling the outcome as a significant win for both sides. Von der Leyen agreed and said it was “a good deal” for Europe as well.
EU and the US are each other’s largest trade partners and account for 1/3 of all global trade. The deal comes just days before the August 1 tariff deadline, which had loomed large over transatlantic trade.
Here are a few key aspects of the deal between the US and the EU, as pointed out by Trump.
The deal includes a 15% tariff on EU goods entering the US. EU will purchase significant amount of US military equipment. EU will but $150 billion in US energy. EU will make $600 billion in US investments.Agriculture will have an impact impact.The deal also includes the aspect of cars and chips. Steel and aluminium will remain the way it is.