US President Donald Trump announced the framework trade agreement between the US and the European Union (EU) on 27/7.
The agreement stipulates a 15% US tariff on EU imports. In return, EU nations will purchase a substantial quantity of American energy and military equipment.
This agreement follows a 30% tariff notice issued by Trump to the EU on 12/7.
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President Donald Trump shakes hands with European Commission President Ursula von der Leyen in Turnberry, Scotland on 27/7. Photo: Reuters |
President Donald Trump shakes hands with European Commission President Ursula von der Leyen in Turnberry, Scotland on 27/7. Photo: Reuters
In 2024, total trade between the US and EU reached approximately 1,680 billion euros (1,980 billion USD). The EU had a 198 billion euro surplus in goods but a 148 billion euro deficit in services, resulting in a 50 billion euro trade surplus with the US.
President Trump has frequently criticized the trade balance between Washington and Brussels as unfair, accusing the EU of taking advantage of the US and calling the bloc "difficult to negotiate with".
* Further updates to follow
Tu Anh (Reuters)
