() President Donald Trump has announced that the United States and the European Union have reached a trade deal.
In the deal, the E.U. has agreed to purchase $750 billion worth of energy from the U.S., and invest an additional $600 billion more into the U.S., along with purchasing an undetermined amount of military equipment and will open its countries to trade at zero tariff.
“We are agreeing that the tariff, straight across for automobiles and everything else, will be a straight across tariff of 15 percent,” Trump added.
The deal comes as Trump is two days into his Scotland visit where he started discussing the trade deal with Ursula von der Leyen, the head of the European Commission.
“It’s a good deal. It’s a huge deal, with tough negotiations, ” von der Leyen said. “I knew it at the beginning and it was indeed very tough, but we came to a good conclusion on both sides.”
Trump also said he’s looking to make other deals with 3 other countries, and called the E.U. deal “the biggest he’s made.” The other countries will receive a letter sometime this week before Aug. 1.
