the United States and the European Union have reached a significant trade agreement,aiming to foster stability and predictability for businesses on both sides of the Atlantic.
This accord follows a series of trade pacts negotiated by the Trump administration with other global partners, including Japan, the UK, Indonesia, and Vietnam. The EU has previously faced various tariffs imposed by the US, including levies on cars, steel, and aluminum, and also a general 10 percent tariff.
Under the terms of the new deal, Europe has committed to an additional $US600 billion ($915 billion) in investments into the US economy and will purchase an estimated $US750 billion ($1.14 trillion) worth of energy from the United States. This agreement comes at a crucial time, as Washington had previously indicated a potential increase in across-the-board tariffs on EU imports to 30 percent in the absence of a deal.
Protesters gathered during the US president’s visit to Scotland. (AP: Jane Barlow)
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