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US and EU agree trade deal - with bloc facing 15% tariffs on goods into America
The United States and European Union have reached an agreement on a trade deal, says Donald Trump.
The announcement was made as the US president met European Commission chief Ursula von der Leyen at one of his golf resorts in Scotland. Speaking after talks in Turnberry, Mr Trump told reporters it was the "biggest deal ever made" and will be "great for cars" as well as having a "big impact" on agriculture.
The US will impose 15% tariffs on most EU goods entering America, after Mr Trump had threatened a 30% levy. The deal includes $600bn (£446bn) of EU investments in the US, and the bloc will buy $750bn (£558bn) of US energy and also purchase American military equipment.
Mr Trump said: "I think it's great that we made a deal today instead of playing games and maybe not making a deal at all." "I think it's the biggest deal ever made." He said: "We are agreeing that the tariff... for automobiles and everything else will be a straight across tariff of 15%." However, the 15% baseline rate would not apply to steel and aluminium, for which a 50% tariff would stay in place.
Ms von der Leyen said: "We have a trade deal between the two largest economies in the world and it's a big deal, it's a huge deal. It will bring stability, it will bring predictability, that's very important for our businesses on both sides of the Atlantic." She said the agreement would include 15% tariffs "across the board.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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