The Biggest Deal in History Been Made? | US – European Union

After intense negotiations between U.S. President Donald Trump and European Commission President Ursula von der Leyen at the Turnberry golf course, a framework trade and investment agreement was signed between the United States and the European Union. Trump declared this agreement as “the biggest deal ever made.”

1. Customs Tariffs and Reciprocity

• A 15% base tariff was imposed on goods coming from the EU, a rate lower than Trump’s earlier prediction of 30%.

• Aircraft parts, semiconductor equipment, certain chemicals, agricultural products, and critical raw materials were included in the zero-tariff category. However, the current 50% tariffs on steel and aluminum products were maintained permanently, and a quota system is expected to be implemented for these products.

2. Energy and Investment Commitments

• To reduce dependence on Russian natural gas, the European Union committed to importing $250 billion worth of LNG (liquefied natural gas) annually from the U.S. Over three years, this totals approximately $750 billion.

• The EU also agreed to make a total of $600 billion in direct investments in the U.S. during Trump’s second term.

3. Military Equipment Procurement

• European countries reached an agreement to purchase a significant amount of military equipment from the U.S., establishing a major economic link in the defense sector.

In his statement to the press, Trump emphasized that this agreement provides U.S. exporters with long-awaited market access and brings new momentum to transatlantic relations. Von der Leyen noted that the agreement, signed after tough negotiations, eliminated uncertainties, created stability for investors, and established a balanced power dynamic between the parties.

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How Did the Market React?

The business world and investors welcomed the agreement’s stabilizing effect on U.S.–EU trade. The euro appreciated by 0.2–0.3% against the dollar. Analysts from firms like JPMorgan, ING, and Pepperstone predicted long-term growth potential particularly in the automotive, energy, defense, and tech sectors.

Bernd Lange, chairman of the European Parliament’s trade committee, stated that the EU’s investment commitments must be carefully examined and expressed concerns that the flow of capital might come at the expense of other internal EU priorities. The differing tariff regime in Northern Ireland also raised diplomatic concerns regarding the Good Friday Agreement.

When Will It Take Effect?

The U.S. announced that the agreement will be officially implemented in the coming weeks, following the release of results from Customs and Trade Investigations. It was also noted that tariffs on pharmaceuticals and semiconductors will be “evaluated on a separate basis.” The approval processes by EU member states and the European Parliament are expected to be completed in the coming weeks.

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