The United States and the European Union have reached a consensus that will reduce trade tariffs and increase supply volumes. This was reported by Bloomberg.
After talks with European Commission President Ursula von der Leyen, US President Donald Trump announced the agreements reached.
Trump said that the EU had agreed to purchase $750 billion worth of US energy resources and invest $600 billion in the US economy. In addition, Brussels will acquire a “huge amount” of military equipment.
The new agreement will allow the European Union to avoid the 30% tariffs that Washington planned to impose on August 1, 2025. In return, the US will impose 15% tariffs on most EU imports, including cars. Previously, cars and auto parts were subject to a 25% duty.
However, according to the US President, Brussels will open its markets to US imports at a zero rate.
Earlier, Politico reported that Trump’s economic policies have significantly impacted the post-World War II international system in just six months.
