BRUSSELS, July 27 (KUNA) -- European Commission President Ursula von der Leyen announced Sunday that the European Union and the United States have reached a trade agreement establishing a unified 15 percent tariff on the majority of EU exports.
The announcement came following her meeting with US President Donald Trump in Turnberry, Scotland, earlier today.
Von der Leyen said the agreement provides "stability and predictability in uncertain times" for citizens and businesses on both sides of the Atlantic.
In a press release, von der Leyen declared that "the EU and the United States have reached a comprehensive deal on tariffs and trade," noting that this agreement between the world's two largest economies "represents a second building block in strengthening the transatlantic partnership, just weeks after the NATO summit." She explained that the deal sets a unified 15 percent tariff rate on most EU exports, including key sectors such as automobiles, semiconductors, and pharmaceuticals.
"This rate represents a clear and comprehensive ceiling with no stacking, offering much-needed clarity for investors and businesses," she added.
Von der Leyen also noted that both sides agreed to a zero-for-zero tariff arrangement on a range of strategic goods, including all aircraft and components, certain chemicals, generic medicines, semiconductor manufacturing equipment, selected agricultural products, natural resources, and critical raw materials.
"Work will continue to expand this list," she said.
On steel and aluminum, von der Leyen acknowledged that both parties face the shared challenge of global overcapacity.
"The EU and US will cooperate to ensure fair global competition," she stated, adding that the deal includes tariff reductions and a quota system.
In the energy sector, von der Leyen announced that "the EU will intensify cooperation with the US by diversifying supply sources through increased purchases of US liquefied natural gas, oil, and nuclear fuels," as part of a broad plan to replace Russian energy imports.
She also pointed out that "US AI chips will help power Europe's large-scale AI factories and will support the US in maintaining its technological edge." Von der Leyen stressed that the deal brings immediate tariff relief and enables companies to plan and invest with confidence.
"It secures stable access to our largest export market while allowing greater entry for American goods into our market benefiting European consumers and boosting the competitiveness of EU businesses," she said.
She added that the deal provides "a framework to further reduce tariffs, address non-tariff barriers, and enhance cooperation on economic security" emphasizing that "EU-US cooperation brings tangible benefits to both sides." Von der Leyen thanked US President Donald Trump for "his personal commitment and leadership in achieving this breakthrough," describing him as "a tough negotiator, but also a dealmaker." (end) arn.mb