United States and European Union have reached a trade deal which will see a blanket tariff of 15% on all EU goods imported to the US. Trump and President of the European Commission Ursula von der Leyen met for talks in Scotland and she has called the agreement a “huge deal”.”On the first of August, we would have been at 30%, and it would have been much more difficult to get down to 15%,” she said.

President Trump says the EU has promised hundreds of billions of dollars of investment and energy purchases.

She also said the European Union will increase cooperation with the United States by buying American energy products.

“We will replace Russian gas and oil with significant purchases of US LNG, oil and nuclear fuels,” the European Commission President said in a statement.”Today’s deal creates certainty in uncertain times. It delivers stability and predictability, for citizens and businesses on both sides of the Atlantic.”This is a deal between the two largest economies in the world.”