Overview

• President Trump and European Commission President Ursula von der Leyen met in Turnberry, Scotland, to conclude months of high-stakes tariff negotiations.
• The deal sets a 15% tariff on most European goods entering the U.S., preserves existing 50% duties on steel and aluminum, and excludes pharmaceuticals from new levies.
• Brussels has pledged to purchase $750 billion in U.S. energy and invest $600 billion more in the American economy over the coming years.
• Both sides have agreed to suspend threats of 30% U.S. tariffs and €93 billion in EU retaliatory measures ahead of the August 1 deadline.
• Officials described the agreement as a measure to rebalance transatlantic trade relations and prevent economic disruption from a full tariff escalation.