The trade deal, announced Sunday, sets tariffs at 15 percent for European goods, including automobiles.
The agreement is lower than the 30 percent tariff Trump had threatened to impose on the EU, which would have begun on Aug. 1, and avoids a trade war with the U.S.’s largest trading partner.
Trump and Ursula von der Leyen both touted the enormity of the deal they had agreed to during a meeting at the president’s golf course in Turnberry, Scotland.
“I think it’s the biggest deal ever made,” Trump said.
“We have a trade deal between the two largest economies in the world. It’s a big deal, it’s a huge deal, it will bring stability, it will be predictability,” von der Leyen said. “It’s a good deal, it’s a tough deal.”
When asked about concessions the U.S. made to reach the deal, von der Leyen acknowledged that there was an unbalanced trade relationship previously between the EU and the U.S., resulting in a deficit for the U.S.
“We wanted to rebalance the trade relation and we wanted to do it in a way that trade goes on between the two of us across the Atlantic,” she said.
Welcome to The Hill’s Energy & Environment newsletter, I’m Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
The planet has endured massive freshwater losses over the past two decades due to the combined effects of climate change, overconsumption and drought, a new study has found.
The Problem Solvers Caucus, a bipartisan coalition of House lawmakers that frequently works across the aisle, is requesting a meeting with President Trump to discuss immigration, permitting reform and the national debt.
President Trump has seemingly reignited his feud with California Gov. Gavin Newsom (D) over proceeds from the California FireAid concert, arguing that $100 million in donations intended for Los Angeles residents who were affected by the January fires is “missing.”
The Trump administration released a memo Monday that aims to protect religious expression among federal workers, outlining that employees can attempt to persuade co-workers about why their religious beliefs are “correct.” Read more
In a move that surprised many on both sides of the political aisle, progressive Rep. Alexandria Ocasio-Cortez (D-N.Y.) recently voted — with an overwhelming majority of House Democrats and Republicans — to support funding for Israel’s Iron Dome defense system. Read more
