Major developments are unfolding on the global trade front. US President Donald Trump and European Union leaders have reached a trade agreement that could usher in a new chapter for transatlantic economic relations. 

According to the White House, following talks in Scotland, the United States and the European Union have signed a trade deal. The agreement stipulates that the EU will purchase $750 billion worth of American energy products and invest an additional $600 billion in the US economy.

President Trump announced that all EU countries have agreed to open their markets to US goods with zero tariffs. He emphasized that the deal "satisfies both sides." In addition, Washington and Brussels have settled on a unified tariff of 15% on automobiles, the US leader noted.

Following a successful round of negotiations, European Commission President Ursula von der Leyen said the agreement would "bring stability" to the eurozone. EU leaders described the outcome as productive. "This is very important for our businesses on both sides of the Atlantic," von der Leyen stressed.

The agreement also helps the EU avoid the 30% tariffs that Trump had previously threatened. In mid-July, the US president had warned of sweeping tariffs on EU goods, stating that beginning August 1, 2025, Washington would impose a 30% tariff on all EU goods entering the US, in addition to existing sector-specific duties. However, in a notable shift, Trump reversed course, opting for diplomacy over escalation.