Trump announced a new trade agreement between the U.S. and Europe, with tariffs and market access as key issues.

Trump: The US and EU Have Reached a Trade Agreement

US President Donald Trump announced on July 27 that the US and the EU have reached a trade agreement.

During a meeting with European Commission President Ursula von der Leyen, Trump told reporters, "This is a major agreement with many countries."

Trump said that both sides agreed to implement a unified tariff of 15%, and the EU member states committed to opening their zero-tariff markets to American goods.

He said, "We have agreed that the unified tariff rate for cars and all other goods is 15%. That means we will impose a 15% tariff."

Trump said that the EU agreed to open its market for trade with the US at zero tariffs.

He said, "The EU has agreed to open their country's market at zero tariffs."

Trump said that the EU agreed to purchase $75 billion worth of energy from the US under the new trade agreement framework.

He said, "The EU will purchase $75 billion worth of energy products from the US and add another $60 billion in investments to the US on top of existing investments."

In addition, the EU agreed to purchase billions of dollars' worth of American military equipment.

Trump said, "They have agreed to purchase a large amount of military equipment."

Previously, Trump stated that the US would impose a 30% tariff on EU goods starting August 1, and the industry tariffs previously imposed would remain in effect. The letter stated that if the EU increases the tariffs on US goods, the US would add "this amount" to the 30% and impose higher tariffs on the EU.

European Commission President Ursula von der Leyen said last weekend that they would continue negotiations with Washington, and if it failed, they were prepared to take retaliatory measures starting August 1.

Original: https://www.toutiao.com/article/1838832169784324/

Statement: This article represents the personal views of the author.