KABUL: U.S. President Donald Trump and Ursula von der Leyen, President of the European Commission, have reached a bilateral trade agreement, Reuters reported this morning.
President Trump stated that the U.S. will reduce tariffs on most imported goods from Europe from 30% to 15%, while tariffs on “steel and aluminum” will remain at 50%.
Trump mentioned that, under the agreement, the European Union is expected to invest $600 billion in the U.S.
Additionally, strategic goods such as “aircraft parts, equipment, electronic chips, specific chemicals, certain agricultural products, natural resources, and sensitive materials” will be exempt from tariffs on both sides.
Furthermore, under the new agreement, the European Union will purchase $750 billion worth of energy from the U.S., including “oil, gas, and nuclear fuels.”
This comes shortly after President Trump reached a similar agreement with the Japanese government.
Trade Agreement between U.S. and Europe; Washington reduces tariffs on European goods to 15%
