President Trump announced a framework trade deal with the European Union in Turnberry, Scotland. He described the EU as most important.
“The European Union is going to agree to purchase from the United States $750 billion worth of energy,” Trump said. “They are going to agree to invest into the United States $600 billion more than they’re investing already.”
Trump began talks with von der Leyen earlier Sunday with Friday’s deadline looming to reach a trade deal to avoid 30% tariffs on European imports. Trump said the United States could not go lower than a 15% across-the-board tariff rate for the European Union.
It appears that is the rate they settled on, except steel and aluminum which remains at 50% for now.
EU Commissioner Ursula von der Leyen, and President Donald Trump spoke earlier. He said they could have a trade deal in an hour. He came close. Mr. Trump emphasized the importance of “fairness” and said they had four or five issues to iron out.
The EU Commissioner said Trump is “known as a tough negotiator and dealmaker.”
