Overview

• At a July 27 summit in Turnberry, Scotland, President Donald Trump and EU Commission President Ursula von der Leyen agreed to cap most U.S. tariffs on European imports at 15%.
• Existing 50% tariffs on steel and aluminum imports remain unchanged under the deal.
• The EU has committed to purchase $750 billion in U.S. energy and invest $600 billion in U.S. assets over the remainder of Trump's term.
• The deal averts planned U.S. 30% duties and an EU package of €93 billion in counter-tariffs.
• Implementation requires approval from all 27 EU member states and ongoing sector-specific negotiations on quotas and product exemptions.