After heated talks and weeks of unsteady anticipation over a possible 30% tariff imposed on European exports to America, the US and EU have ironed out a trade deal in Scotland. The new deal sees a US tariff on all EU goods of 15%.
European Commission President Ursula von der Leyen said the deal would bring stability to both allies (as per the BBC). The EU is also to open its markets to US exporters with 0% tariffs on certain products.
Trump has also recently agreed deals with the UK, Japan, Vietnam and the Philippines as he continues to try and restore America to a firm position of power in the global economy. Speaking on the EU deal, Trump said: "We have reached a deal. It's a good deal for everybody. It's going to bring us closer together."
Von der Leyen added that the negotiations were "tough," but believes the deal is "huge." Further technical details of the deal are to be finalised over the coming weeks, and approval of the deal will be required by EU member states.
Both sides are claiming this deal as a victory. Trump has managed to succeed in imposing tariffs, while Von der Leyen has prevented those tariffs from being quite as crippling.