US President Donald Trump has introduced a commerce settlement between the US and the European Union that features a 15 p.c tariff on most imports from EU international locations.
Talking throughout a gathering with European Fee President Ursula von der Leyen in Scotland, Trump stated the settlement adopted intensive negotiations and goals to cut back the US commerce deficit and set up a extra balanced financial relationship between the 2 sides.
He famous that the US commerce deficit with the EU reached US$235.6 billion in 2024.
The president revealed that pharmaceutical merchandise can be exempt from the brand new tariffs, together with restricted exclusions for plane and medical tools.
Trump added that the tariff charge, initially anticipated to achieve 30 p.c, was lowered to fifteen p.c below the brand new settlement, which is about to take impact in August.
Von der Leyen expressed the EU’s satisfaction with the settlement, describing it as a balanced end result for each events.
She additionally said the EU’s intention to extend purchases of US navy tools as a part of the bilateral understanding, whereas remaining ready to introduce precautionary commerce measures if obligatory.
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