The United States and the European Union reach a trade agreement
The United States and the European Union reached a trade agreement weeks after intense trade talks between the two sides in an attempt to avoid a commercial war.
Under the agreement described by US President Donald Trump as “the largest agreement ever”, 15 percent fees will be imposed on the European Union commodities entering the United States, including cars and large European purchases of US energy and military equipment.
This deal is a great reward before the deadline for the imposition of the fees, which Trump set on August 1, given that the United States and the European Union are the largest commercial partner of each other with a large difference, and they represent a third of world trade. In 2024, the commodity trade between the United States and the European Union reached nearly a trillion dollars, making the European Union; The largest commercial partner of the United States.
After his talks with European Commission President Ursula von der Line in Turnberry, Scotland, Trump said that the European Union has agreed to buy US energy worth $ 750 billion, and that he would buy huge amounts of military equipment from the United States.
He continued, “The European Union has agreed to invest an additional $ 600 billion in the United States.”
Von der Line said that it was agreed to impose customs duties by 15 percent in all fields, explaining that the agreement will bring stability.
On July 12, Trump threatened to impose customs duties by 30 percent if an agreement was not reached by the deadline that ends on Friday. These fees will be added to the 25 percent customs duties on cars and their spare parts, and 50 percent on steel and aluminum, already imposed.
Speaking to the journalists during his meeting with von der Line before their closed meeting, Trump demanded a more fair trade with the European Union, threatening to impose heavy customs duties to achieve this, while insisting that American import taxes not be less than 15 percent.
Von der Line called for a balance in bilateral trade, which is estimated at billions of dollars between the two vital partners. Speaking to journalists, she and Tremb put the chances of reaching an agreement by 50-50 with the approaching date of the White House on Friday.
“This agreement is greater than any other agreement,” Trump said. He pointed to the possibility of concluding an agreement in a short time. Von der Line described it as “great respect”, and his meeting with her was at the Turnberry Golf Stadium, where he was playing in the morning a great honor. The Republican President said that “the main point of the dispute” was “justice”.
Trump hinted that any agreement with the European Union should “reduce” the average customs duties currently scheduled for 30 percent. During his remarks before the media, on Sunday, he pointed to a modern American agreement with Japan that defined customs duties rates on many commodities by 15 percent, and suggested that the European Union approve a similar agreement.
When asked if he was ready to accept customs duties less than that, he replied, “No.”
Before Trump and Von der Line meeting, the US and European Union negotiators held final talks on customs duties facing vital sectors such as cars, steel, aluminum and medicines.
American commercial actor Jameson Ghrir and Minister of Trade Howard Lottenic traveled to Scotland on Saturday, and the European Union Trade Commissioner Marus Sevkovic arrived on Sunday morning. Lootnick told Fox News Sunday that the European Union needs to open its markets to more American exports to persuade Trump to reduce the threatened customs duties, which is scheduled to be applied on August 1.
Earlier this month, the United States and the European Union seemed close to reaching an agreement, but Trump threatened instead by imposing customs duties by 30 percent. The Trump Administration’s deadline has changed to start imposing customs duties in recent weeks, but it is now fixed, as the administration insists.
“No extensions, no periods of grace. On August 1, customs duties will be determined, applied, and customs will start collecting money, and we will start. ”This is what Lootnick stated for the Sunday program. He added, however, that even after that, “people can still talk to President Trump. I mean, he is always ready to listen. ”
Trump is expected to meet today, Monday, British Prime Minister Kiir Starmer, as the latter will try to pressure the American president to accelerate the reach of a final agreement to reduce customs duties on British steel. Trump said he would meet Starmer to “improve the trade deal we have reached.”
The Tramp Agreement on May 8 has reduced customs tariffs on British car manufacturers and aircraft manufacturers, but steel producers had to wait longer due to American concerns about British supply chains.
