Trump strikes massive trade deal with EU on energy, arms, tariffs
“The European Union is going to agree to purchase from the United States $750 billion worth of energy.”
The United States has reached a trade deal with the European Union after President Donald Trump pressured the group of nations, as well as others, to open up trade with the US using the threat of tariffs.
While being joined by EU Commission President Ursula von der Leyen, Trump detailed the plans for the deal. “The European Union is going to agree to purchase from the United States $750 billion worth of energy.”
“They are going to agree to invest, into the United States, $600 billion more than they’re investing already. So they’re investing a large amount of money. … They’re agreeing to open up their countries to trade at zero tariff,” Trump added. “So that’s a very big factor, opening up their countries. All of the countries will be opened up to trade with the United States at zero tariff, and they’re agreeing to purchase a vast amount of military equipment.”
The president added that the number for the military equipment is not exact, and then also said the EU imports to the US will have a “straight across tariff of 15 percent” on automobiles and other goods. The tariffs on EU goods were previously in the single digits on average, according to the New York Times. The EU had hoped to reach an agreement for 10 percent across the board on tariffs.
Treasury Secretary Scott Bessent, who has been negotiating many of the deals with different countries around the world, said on X in response to the deal being met, “Thanks to President Trump, we have secured a historic trade deal with the European Union to open its $20 trillion economy to us. [President Trump] is the world’s great negotiator, and the American people are the beneficiaries.”
This comes after Trump has brokered a number of other trade deals with other countries.