In a move that helped avert a potentially damaging transatlantic trade
In a move that helped avert a potentially damaging transatlantic trade conflict, the United States and the European Union reached a preliminary trade agreement on Sunday, slashing proposed tariffs on most EU imports to 15%—half the initially threatened rate.
U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the breakthrough during a high-profile meeting in Scotland. The agreement followed an hour-long negotiation that broke months of stalemate.
The deal mirrors elements of a similar preliminary pact between the U.S. and Japan. However, it leaves several contentious issues unresolved—including tariffs on alcoholic beverages, a politically sensitive matter on both sides of the Atlantic.
Winners and Losers Emerge
Trump hailed the agreement as a strategic win, highlighting European commitments to purchase 750 billion euros worth of American energy products over the coming years and “hundreds of billions” in U.S. defense equipment. If fully implemented, the deal could benefit major European corporations such as Airbus, Mercedes-Benz, and pharmaceutical giant Novo Nordisk.
German Chancellor Friedrich Merz welcomed the news, emphasizing that the accord helped sidestep a trade war that would have severely impacted Germany’s export-driven economy—particularly its key automotive sector. German automakers like Volkswagen, BMW, and Mercedes were hit
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