U.S. and EU Agree on 15% Tariff Rate

On July 27 local time, President Trump announced the U.S. has reached a 15% tariff agreement with the EU. Trump said the EU will boost U.S. investment by $600 billion, buy U.S. military equipment, and purchase $150 billion in U.S. energy products.

EU Commission President von der Leyen stated both sides agreed on a uniform 15% tariff rate, applying to goods including cars. She noted these trade deals will bring market stability.