Former US President Donald Trump on Sunday declared the finalisation of what he called the “biggest deal ever” between the United States and the European Union, featuring a uniform 15 per cent tariff across all goods, massive energy and military purchases, and significant investment commitments from the EU.
Speaking alongside European Commission President Ursula von der Leyen in an interview aired by Fox News, Trump stated, “This is probably the biggest deal ever reached—trade or otherwise. The EU will purchase $750 billion worth of American energy and invest $600 billion more in the U.S. than they currently are.”
He also announced that the 27-nation European Union has agreed to open its markets to the U.S. with zero tariffs in specific sectors and committed to large-scale purchases of American military equipment.
“We’re implementing a straight 15% tariff across the board—from automobiles to everything else. That’s a big factor,” Trump said, noting that the deal will come into effect on August 1.
Von der Leyen confirmed the agreement, describing it as a “huge deal” that ensures economic “stability and predictability” for both regions. “Yes, the European market is open. That’s 450 million people. This was a tough negotiation, but we reached a good conclusion for both sides,” she said.
The announcement follows Trump’s earlier warning this month about a 30% tariff on EU imports, citing trade imbalances. Sunday’s deal effectively replaces that proposal with a more comprehensive and mutual framework.
Both leaders emphasized the strategic and economic significance of the agreement, marking a potential reset in transatlantic trade relations between the world’s two largest economies.