The trade agreement sets a 15 percent tariff for imports from Europe.
After months of negotiation, President Donald Trump said on July 27 that he reached a trade deal with the European Union.
“We have good news. We have a deal,” Trump said on Sunday during his trip to Scotland.
In a preview of the deal, Trump said the EU will buy $750 billion worth of energy from the United States, and tariffs on EU imports into America, including automobiles, will fall to 15 percent.
The EU will also invest an additional $600 billion beyond its current investments in the United States and will purchase U.S. military equipment.
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