US finally sets 15% tariff on European exports

According to a new trade agreement between the United States and European Union, the US will impose a 15% tariff on all European Union goods—significantly lower than the 30% rate previously threatened by Washington, reports BBC.

Following high-stakes talks at the Turnberry golf resort in Scotland, US President Donald Trump and European Commission President Ursula von der Leyen announced the deal on Sunday (July 27).

In return, the EU has pledged to grant zero-tariff access to select American exports, including certain agricultural products, aircraft parts, and chemicals.

President Trump described the outcome as “a good deal for everybody” and said it would “bring us closer together.” Von der Leyen hailed the deal as a “huge achievement” following “tough negotiations,” emphasising that it would help stabilise trade ties between the two economic powers, which together account for nearly a third of global commerce.

The agreement does not impact the separate 50% tariffs the US currently applies to global steel and aluminium imports, which Trump confirmed would remain in force.

While the deal has been welcomed by many European leaders, some have raised concerns over its fairness.

“The trade agreement negotiated by the European Commission with the United States will bring temporary stability to economic actors threatened by the escalation of American tariffs, but it is unbalanced,” France’s Minister for European Affairs, Benjamin Haddad, said in a post on social media platform X.

Trump also noted that similar trade pacts had been secured with the UK, Japan, Indonesia, the Philippines, and Vietnam, though he has not met his goal of finalising “90 deals in 90 days.”

A separate agreement focused on semiconductors is reportedly in development and may be announced in the coming weeks.

President Trump, currently on a five-day visit to Scotland, is expected to travel to Aberdeen on Tuesday, where he will visit his family’s golf course and unveil plans for a third resort in the region.