US, EU Confirm Trade Deal With 15% Tariffs, $750B Energy Pact

The United States and the European Union finalized a trade agreement imposing a 15% tariff on most EU goods entering the US, announced by President Donald Trump and European Commission President Ursula von der Leyen after talks at Trump's golf resort in Scotland. The deal includes significant EU commitments to purchase $750 billion in US energy, including liquefied natural gas, and $600 billion in investments, along with substantial purchases of US military equipment. This agreement averts a threatened 30% tariff that Trump had proposed and comes just days before the US deadline to impose such tariffs. Trump described the deal as beneficial for both parties, aiming to address the longstanding US trade deficit with the EU, which reached $235 billion in 2024, while von der Leyen called it a major achievement for both sides. Although the EU initially sought a zero-tariff outcome, the compromise is seen as preferable to the harsher tariffs threatened earlier, and the deal opens talks on reducing regulatory barriers. The agreement marks another step in Trump's broader strategy to reshape global trade dynamics and reduce trade imbalances with key partners.