Trump announces a trade agreement with the European Union
Washington, on July 27/ WAM/ US President Donald Trump announced the arrival of a trade agreement between his country and the European Union that includes the imposition of customs duties by 15% on most imports coming from the countries of the Union.
Trump said during his meeting with Ursula von der Line, President of the European Commission in Scotland, that the agreement – which is a step aimed at reducing the trade deficit and achieving an economic balance between the two sides – came in the wake of intensive negotiations and aims to address the US trade deficit of $ 235.6 billion with the European Union in 2024.
He revealed that pharmaceutical products will be exempt from fees, as well as limited exceptions that include medical planes and equipment.
The US President confirmed that the fees that were scheduled to reach 30% were reduced to 15% within the new agreement, which will come into effect next August.
For its part, von der Line expressed the European Union’s satisfaction with the agreement to reach this agreement, which confirmed that it is achieving a satisfactory balance for both parties.
It expressed the intention of the European Union to increase its purchases of American military equipment within bilateral understandings, while preparing for backup trade measures in the event of necessity.
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