Maroc - ENG.UATV.UA - A La Une - 28/Jul 06:10

U.S. Reaches Trade Deal with the European Union

The United States and the European Union have reached a trade agreement that sets a base tariff of 15% on most goods, including automobiles. This was announced by U.S. President Donald Trump, Ukrinform reports, citing The New York Times. As part of the deal, the EU will make significant investments in the American energy sector and will also purchase U.S. military equipment. “We did it,” Trump emphasized. European Commission President Ursula von der Leyen, in turn, stated that the agreement “will shift the balance but will benefit trade on both sides.” According to the U.S. leader, as quoted by CNN, the EU has “agreed to purchase $750 billion worth of energy from the United States” and increase investments in the U.S. by $600 billion. “All countries will be open to trade with the United States at zero tariffs, and they have agreed to purchase massive amounts of military equipment,” the U.S. President stated. As reported earlier, Donald Trump and Ursula von der Leyen met on July 27 in Scotland to discuss trade relations between the EU and the United States. The U.S. President also praised NATO countries’ decision to raise defense spending to 5% of GDP and confirmed his intention to push forward a deal with allies involving the purchase of U.S. weapons — including for providing military assistance to Ukraine. Previously, the U.S. President had announced plans to introduce 30% tariffs on EU goods starting August 1. Read also: Russia Has Committed 840 Crimes Against Journalists and Media Since the Start of Its Full-Scale Invasion The post U.S. Reaches Trade Deal with the European Union appeared first on Freedom.