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'The Biggest Of All The Deals' | Trump Announces US Tariff Deal With EU
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July 28, 2025
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3:09Now PlayingThe US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy.
The pact was concluded less than a week before a Friday deadline for President Donald Trump’s higher tariffs to take effect and was quickly praised by several European leaders, including German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni, who called it “sustainable.”
Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn’t disclose the full details of the pact or release any written materials. The 15% rates will take effect Aug. 1, according to a US official.
“It’s the biggest of all the deals,” Trump said, while von der Leyen added it would bring “stability” and “predictability.”
The deal would leave EU exports facing much higher tariffs than the bloc would charge for imports from the US, with von der Leyen saying the aim is to rebalance a trade surplus with the US. But those kinds of tradeoffs in the agreement angered some European industry groups, with Germany’s main lobby saying it “sends a fatal signal to the closely intertwined economies on both sides of the Atlantic.”
Von der Leyen and Trump also differed on some of the key terms of the deal they announced. The US president said the tariff level would apply to “automobiles and everything else,” but not pharmaceuticals and metals.
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