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United States President Donald Trump said Sunday that a trade agreement reached with European Commission President Ursula von der Leyen will impose 15% tariffs on European Union exports, capping months of tense negotiations ahead of a looming deadline.
“We have reached a deal. It’s a good deal for everybody,” Trump told reporters following the talks at his Turnberry golf resort in southwestern Scotland. Von der Leyen echoed his remarks, calling it a “good deal.”
Trump said the EU agreed to invest an additional $600 billion in the United States and purchase $750 billion worth of U.S. energy, including liquefied natural gas. The accord aims to avert a sweeping 30% tariff package the United States was set to impose on all EU goods starting August 1.
The meeting, held at Trump’s luxury golf resort in Turnberry, marked a last-ditch effort to end a months-long transatlantic trade dispute before sweeping tariffs take effect on August 1.
Trump told reporters that the chance of reaching a deal with the EU stood at “50-50.” If no agreement is reached, the bloc faces across-the-board U.S. tariffs of 30%.
“There will be no extensions,” Trump said, confirming that “the deals all start on August 1.”
The European Commission, negotiating on behalf of the 27 EU member states, is aiming to salvage a trading relationship valued at $1.9 trillion annually in goods and services. Von der Leyen said at the start of talks that a successful agreement “would be the biggest deal each of us has ever” made.
An EU diplomat briefed ahead of the meeting said the framework of a deal was largely in place, though several critical issues remained unresolved.
“A political deal is on the table — but it needs the sign-off from Trump, who wants to negotiate this down to the very last moment,” the diplomat told AFP.
The proposal would impose a baseline 15% tariff on EU exports to the United States — the same rate Japan secured in its own trade pact — with exemptions for select sectors, including aircraft and spirits, though not wine.
Any deal must still be approved by all EU member states. Ambassadors, currently visiting Greenland, were briefed Sunday morning and are expected to reconvene following any finalized agreement. According to the diplomat, the 27 countries broadly support the draft deal while maintaining their negotiating red lines.
Sunday’s talks took place at Trump’s Turnberry resort on Scotland’s southwestern coast. On Friday, the president said he hoped to strike “the biggest deal of them all” with the EU.
While seeking to avoid economic damage from new tariffs, the EU has also warned of retaliatory measures. Under the proposed deal, the EU would increase purchases of U.S. liquefied natural gas and commit to other investment pledges.
Despite pushback from some EU members, pharmaceuticals — a key export for Ireland — and semiconductors would still be subject to the 15% levy. A compromise may also be in place on steel, allowing a limited quota into the U.S. market tariff-free, the diplomat said.
However, Trump made clear Sunday that tariffs would not fall below 15%.
The EU has already been hit with several rounds of U.S. tariffs since Trump returned to the White House, including a 25% levy on cars, 50% on steel and aluminum, and a 10% blanket tariff, which Washington threatens to raise to 30% in the event of no deal.
It remains unclear how the proposed agreement would affect tariffs on the auto sector — a priority for Germany and France. Automakers have been heavily impacted by existing duties.
Although the proposed 15% tariff is significantly higher than the current average U.S. duty of 4.8% on EU goods, it would largely maintain the present status quo, where an extra flat rate of 10% is already in effect.
Should the negotiations collapse, EU states have approved retaliatory tariffs on $109 billion (93 billion euros) worth of U.S. goods, including cars and aircraft, to be phased in beginning August 7. Brussels is also preparing a list of U.S. services that could be targeted.
Some EU countries, including France, are urging the European Commission to consider invoking a so-called “trade bazooka” — legislation allowing Brussels to restrict access to its market and public contracts in response to coercive measures.
Such a move, however, would mark a significant escalation in tensions with Washington.
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