A deal has been agreed on matters of trade and tariffs between the US and the EU, following talks in Scotland between US president Donald Trump and president of the European Commission Ursula von der Leyen on 27 July 2025.
One of the most important terms of the deal is the agreement of a 15% tariff on EU goods coming into the US. This rate is lower than the 30% tariff Trump recently threatened, and the planned 20% rate announced on Trump’s so-called ‘Liberation Day’.
However, before 2 April, this rate was much lower. According to analysis from think tank Bruegel, the US’ average tariff rate on US imports was 1.47%.
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In a statement following the agreement of the deal, von der Leyen said: “We have stabilised on a single 15% tariff rate for the vast majority of EU exports.
“This rate applies across most sectors, including cars, semiconductors and pharmaceuticals. This 15% is a clear ceiling.
“No stacking. All-inclusive. So it gives much-needed clarity for our citizens and businesses. This is absolutely crucial.”
She went on to confirm that two economic powerhouses had reached an agreement on “zero-for-zero tariffs on a number of strategic products”. This agreement includes “all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials.”
“We will keep working to add more products to this list,” von der Leyen added.
Together, the EU and the US are a market of 800 million people.
And nearly 44 percent of global GDP.
It’s the biggest trade deal ever ↓ https://t.co/rG3cHebXEk
— Ursula von der Leyen (@vonderleyen) July 27, 2025
Furthermore, the US and the EU are set to work together to “reduce barriers” and cut tariffs when it comes to the trade of steel and aluminium.
The EU has also said it will purchase US energy products and replace Russian gas and oil with “significant purchases” of US liquefied natural gas (LNG), oil and nuclear fuels. Meanwhile, it plans to use AI chips from the US to “help power [EU] AI gigafactories and help the US to maintain their technological edge”.
Speaking to the press alongside von der Leyen, Trump announced that the EU, as part of this deal, will purchase US$750 billion (c. £558.6bn) worth of energy from the US and invest an additional $600bn (c. £446.8bn) in the US.
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