JUST IN: Trump Secures Deal With America’s Largest Trading Partner

President Donald Trump on Sunday announced that his administration had secured a new trade agreement with the European Union after weeks of negotiations. With the new agreement secured, the administration has cleared one of the last remaining hurdles in new trade negotiations after previously securing deals with China, the United Kingdom and Japan, three of the nation’s largest trading partners, in addition to a number of additional agreements.

The deal was announced after Trump traveled to Europe in order to engage in days-long negotiations with European Commission President Ursula von der Leyen. It comes at a perfect time, as the U.S. was set to levy steep tariffs on European goods starting on August 1.

Under the new agreement, the EU has agreed to pay 15 percent tariffs on all exports to the United States, a deal similar to the one struck with Japan earlier this week. Automobiles are also included in the tariff figure, which was a major stipulation for the administration.

Some products, including aircrafts and their components, some chemicals and pharmaceuticals, will not be subject to tariffs, von der Leyen told reporters after the agreement was announced. She further confirmed that the 15 percent tariff rate will not be added on to any rates currently in use.

With 15 percent, the European Union will manage to avoid the 30 percent rate previously threatened by President Trump, though it comes in a little above the 10 percent rate Trump was hoping to secure.

“The European Union is going to agree to purchase from the United States $750 billion worth of energy. $750 billion more than they’re investing already. So they’re investing a large amount of money,” Trump announced in a joint press conference with von der Leyen.

“It’s very substantial. But they’re going to invest an additional $600 billion. They’re agreeing to open up their countries to trade at zero tariff. So that’s a very big factor. Opening up their countries, all of the countries will be opened up to trade with the United States at zero tariff. And they’re agreeing to purchase a vast amount of military equipment. We don’t know what that number is, but it’s it’s the good news is we make the best military equipment in the world

The latest agreement clears what had been viewed as arguably the most significant hurdle in the president’s sweeping trade negotiations. With the deal in-hand, new agreements have been reached with all of the nation’s largest trading partners with the exception of Canada, Mexico and South Korea.

Treasury Secretary Scott Bessent has expressed optimism that a new deal with South Korea will be reached in a matter of weeks, while the agreement with the European Union is widely expected to increase pressure on Canada and Mexico to come to the negotiating table.

It also caps off what is arguably the president’s most successful week of trade negotiations yet, as a deal very similar to the one struck with the European Union was reached with Japan on July 22. Like the EU, most Japanese exports will be subjected to 15 percent tariff rates while the Japanese government will be ending any tariffs or existing trade barriers levied against the United States.

In addition to the deal with Japan, Trump this past Tuesday that trade deals with Indonesia and the Philippines had also been finalized. The tariff rate for goods imported into the U.S. from both the Philippines and Indonesia will be 19 percent, Trump announced.

“It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs,” Trump posted on Truth Social after meeting with Philippine President Ferdinand “Bongbong” Marcos Jr. at the White House. The Philippines will pay a 19% Tariff. In addition, we will work together Militarily. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator. We extend our warmest regards to the wonderful people of The Philippines!”