Trump, EU reach trade deal without details

President Trump and European Commission President Ursula von der Leyen announced Sunday that the United States and the European Union have struck a trade deal that would strike a tariff of 15% on EU goods including wine entering the United States, but much less than Trump has threatened, Washington Trade Daily reported.

For the final negotiations, von der Leyen traveled to Scotland, where Trump has been visiting his hotels and inaugurating a new golf course. Details of the agreement were not announced.

“It’s a very powerful deal, it’s a very big deal, it’s the biggest of all the deals,” Trump said Sunday alongside von der Leyen, CNBC reported.

“It’s a good deal, it’s a huge deal, with tough negotiations,” von der Leyen added.

Trump has complained about the U.S. trade deficit with the EU, The Washington Post noted.

The tariffs, or import taxes, paid when Americans buy European products could raise prices for U.S. consumers and dent profits for European companies and their partners who bring goods into the country, the Associated Press said.

Von der Leyen said the two sides agreed on zero tariffs on both sides for a range of “strategic” goods including certain agricultural products, but she also said that when it came to farm products, the EU side made clear that “there were tariffs that could not be lowered,” without specifying which products, AP added.