EDINBURGH, Scotland (AP) \u2014 The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen. A White House deadline was days away for imposing punishing import taxes on the 27-member EU, which is America\u2019s leading global trading partner.<\/p>\n
\u201cIt was a very interesting negotiation. I think it\u2019s going to be great for both parties,\u201d Trump said.<\/p>\n
The make-or-break talks were meant to head off trade penalties \u2014 and promised retaliation from Europe \u2014 that could have sent shock waves through economies around the globe.<\/p>\n
Trump and von der Leyen held private talks at one of Trump\u2019s golf courses in Scotland, then emerged a short time later saying they had reached an \u201cacross the board\u201d agreement. <\/p>\n
In remarks before the session, Trump pledged to change what he characterized as \u201ca very one-sided transaction, very unfair to the United States.\u201d<\/p>\n
\u201cI think the main sticking point is fairness,\u201d he said while also noting, \u201cWe\u2019ve had a hard time with trade with Europe, a very hard time.\u201d<\/p>\n
Von der Leyen had said the U.S. and EU combined have the world\u2019s largest trade volume, encompassing hundreds of millions of people and trillions of dollars. Trump said the stakes involved meant of making a deal, \u201cWe should give it a shot.\u201d<\/p>\n
Von der Leyen said Trump was \u201cknown as a tough negotiator and dealmaker\u201d which caused the president to interject with \u201dbut fair.\u201d She said that, if they are successful, \u201cI think it would be the biggest deal each of us has ever struck.\u201d<\/p>\n
For months, Trump has threatened most of the world with large tariffs in hopes of shrinking major U.S. trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to \u201cbuy down\u201d the currently scheduled tariff rate of 30%. <\/p>\n
The Republican president pointed to a recent U.S. agreement with Japan that set tariff rates for many goods at 15% and suggested the EU could agree to something similar. <\/p>\n
Asked if he would be willing to accept tariff rates lower than that, Trump said \u201cno.\u201d As for the threat of retaliation from the Europeans, he said: \u201cThey\u2019ll do what they have to do.\u201d <\/p>\n
Their meeting came after Trump played golfed for the second straight day<\/a> at his Turnberry course, this time with a group that included sons Eric and Donald Jr. The president\u2019s five-day visit to Scotland is built around golf and promoting properties bearing his name<\/a>. <\/p>\n A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer<\/a>, who plans his own Turnberry meeting with Trump on Monday. Other voices could be heard cheering and chanting \u201cTrump! Trump!\u201d as he played nearby. <\/p>\n On Tuesday, Trump will be in Aberdeen, in northeastern Scotland, where his family has another golf course and is opening a third next month. The president and his sons plan to help cut the ribbon on the new course<\/a>.<\/p>\n Joining von der Leyen were Maros Sefcovic, the EU\u2019s chief trade negotiator; Bj\u00f6rn Seibert, the head of von der Leyen\u2019s Cabinet; Sabine Weyand, the commission\u2019s directorate-general for trade, and Tomas Baert, head of the trade and agriculture at the EU\u2019s delegation to the U.S. <\/p>\n The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but was now firm, the administration insisted. <\/p>\n \u201cNo extensions, no more grace periods. Aug. 1, the tariffs are set, they\u2019ll go into place, Customs will start collecting the money and off we go,\u201d U.S. Commerce Secretary Howard Lutnick told \u201cFox News Sunday.\u201d He added, however, that even after that \u201cpeople can still talk to President Trump. I mean, he\u2019s always willing to listen.\u201d <\/p>\n Without an agreement, the EU said it was prepared to retaliate<\/a> with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes<\/a>. <\/p>\n If Trump eventually made good on his threat of tariffs against Europe, it could meant that everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals would be more expensive in the United States.<\/p>\n