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EU and US agree trade deal, with 15% tariffs for European exports to America

EU and US agree trade deal, with 15% tariffs for European exports to America

The United States and European Union have reached a trade deal, ending a months-long standoff between two of the world’s key economic partners.

After make-or-break negotiations between President Donald Trump and European Commission President Ursula Von der Leyen in Scotland, the pair agreed on a blanket US tariff on all EU goods of 15%. That is half the 30% import tax rate Trump had threatened to implement starting on Friday.

Trump said the 27-member bloc would open its markets to US exporters with zero per cent tariffs on certain products.

Von der Leyen also hailed the deal, saying it would bring stability for both allies, who together account for almost a third of global trade.

Trump has threatened tariffs against major US trade partners in a bid to reorder the global economy and trim the American trade deficit.

As well as the EU, he has also struck tariff agreements with the UK, Japan, Indonesia and Vietnam, although he has not achieved his goal of “90 deals in 90 days”.

Sunday’s deal was announced after private talks between Trump and Von der Leyen at his Turnberry golf course in South Ayrshire.

Trump – who is on a five-day visit to Scotland – said following a brief meeting with the European Commission president: “We have reached a deal. It’s a good deal for everybody.”

“It’s going to bring us closer together,” he added.

Von der Leyen also hailed it as a “huge deal”, after “tough negotiations”.

Under the agreement, Trump said the EU would boost its investment in the US by $600bn (£446bn), purchase hundreds of billions of dollars of American military equipment and spend $750bn on energy.

That investment in American liquified natural gas, oil and nuclear fuels would, Von der Leyen said, help reduce European reliance on Russian power sources.

“I want to thank President Trump personally for his personal commitment and his leadership to achieve this breakthrough,” she said.

“He is a tough negotiator, but he is also a dealmaker.”

The US president also said a 50% tariff he has implemented on steel and aluminium globally would stay in place.

Both sides can paint this agreement as something of a victory.

For the EU, the tariffs could have been worse: it is not as good as the UK’s 10% tariff rate, but is the same as the 15% rate that Japan negotiated.

For the US it equates to the expectation of roughly $90bn of tariff revenue into government coffers – based on last year’s trade figures, plus there’s hundreds of billions of dollars of investment now due to come into the US.

Trade in goods between the EU and US totalled about $975.9bn last year. Last year the US imported about $606bn in goods from the EU and exported around $370bn.

That imbalance, or trade deficit, is a sticking point for Trump. He says trade relationships like this mean the US is “losing”.

If he had followed through on tariffs against Europe, import taxes would have been levied on products from Spanish pharmaceuticals to Italian leather, German electronics and French cheese.

The EU had said it was prepared to retaliate with tariffs on US goods including car parts, Boeing planes and beef.

British Prime Minister Keir Starmer plans his own meeting with Trump at Turnberry on Monday.

Trump will be in Aberdeen on Tuesday, where his family has another golf course and is opening a third next month.

The president and his sons plan to help cut the ribbon on the new fairway.

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Australia and Japan have signed contracts for the first three of 11 warships set to be delivered to the Australian navy under a landmark $7bn defence deal, as the two close US allies in the Asia Pacific region deepen defence cooperation.

Australia’s Defence Minister Richard Marles and Japanese Defence Minister Koizumi Shinjiro made the announcement in Melbourne on Saturday at the signing ceremony for the Mogami-class warships.

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The “Mogami Memorandum” pledges to deepen military ties, including through “closer industrial cooperation” in defence.

Japan’s Mitsubishi Heavy Industries will build three of the stealth frigates in southern Nagasaki Prefecture, while Australia’s Austal will build eight in Western Australia.

The first of the Japanese-built warships is scheduled to be delivered in 2029 and enter service in 2030.

“Our surface fleet is more important than at any time in decades,” Marles said in a statement.

“These general-purpose frigates will help secure our maritime trade routes and northern approaches as part of a larger and more lethal surface combatant fleet.”

Shinjiro said closer defence coordination was becoming more important as Australia and Japan faced an “increasingly severe security environment”.

Australia’s government last year announced that it had chosen Mitsubishi Heavy Industries to build its fleet of next-generation warships, following a bidding war between the Tokyo-based firm and Germany’s Thyssenkrupp.

Australia has committed to a record $305bn in military spending over the next decade, as part of a widespread defence overhaul aimed at boosting the country’s naval power to levels not seen since World War II.

Under the plans, Canberra’s defence spending is set to rise to 3 percent of gross domestic product (GDP) by 3033, from about 2 percent now.

Australia and Japan, two of the United States’ closest allies, have ramped up military cooperation in recent years amid shared concerns about shifts in the regional security environment, particularly China’s rising influence. Tokyo and Canberra are also members of the Quad security bloc led by the US.

#Australia #Japan #sign #contracts #7bn #warships #dealEconomy, News, Business and Economy, Military, Asia Pacific, Australia">Australia and Japan sign contracts for bn warships dealDefence deal is latest example of deepening ties between Canberra and Tokyo amid shared concerns over China’s rise.Published On 19 Apr 202619 Apr 2026Australia and Japan have signed contracts for the first three of 11 warships set to be delivered to the Australian navy under a landmark bn defence deal, as the two close US allies in the Asia Pacific region deepen defence cooperation.Australia’s Defence Minister Richard Marles and Japanese Defence Minister Koizumi Shinjiro made the announcement in Melbourne on Saturday at the signing ceremony for the Mogami-class warships.Recommended Stories list of 4 itemsend of listThe “Mogami Memorandum” pledges to deepen military ties, including through “closer industrial cooperation” in defence.Japan’s Mitsubishi Heavy Industries will build three of the stealth frigates in southern Nagasaki Prefecture, while Australia’s Austal will build eight in Western Australia.The first of the Japanese-built warships is scheduled to be delivered in 2029 and enter service in 2030.“Our surface fleet is more important than at any time in decades,” Marles said in a statement.“These general-purpose frigates will help secure our maritime trade routes and northern approaches as part of a larger and more lethal surface combatant fleet.”Shinjiro said closer defence coordination was becoming more important as Australia and Japan faced an “increasingly severe security environment”.Australia’s government last year announced that it had chosen Mitsubishi Heavy Industries to build its fleet of next-generation warships, following a bidding war between the Tokyo-based firm and Germany’s Thyssenkrupp.Australia has committed to a record 5bn in military spending over the next decade, as part of a widespread defence overhaul aimed at boosting the country’s naval power to levels not seen since World War II.Under the plans, Canberra’s defence spending is set to rise to 3 percent of gross domestic product (GDP) by 3033, from about 2 percent now.Australia and Japan, two of the United States’ closest allies, have ramped up military cooperation in recent years amid shared concerns about shifts in the regional security environment, particularly China’s rising influence. Tokyo and Canberra are also members of the Quad security bloc led by the US.#Australia #Japan #sign #contracts #7bn #warships #dealEconomy, News, Business and Economy, Military, Asia Pacific, Australia

Australia and Japan have signed contracts for the first three of 11 warships set to be delivered to the Australian navy under a landmark $7bn defence deal, as the two close US allies in the Asia Pacific region deepen defence cooperation.

Australia’s Defence Minister Richard Marles and Japanese Defence Minister Koizumi Shinjiro made the announcement in Melbourne on Saturday at the signing ceremony for the Mogami-class warships.

Recommended Stories

list of 4 itemsend of list

The “Mogami Memorandum” pledges to deepen military ties, including through “closer industrial cooperation” in defence.

Japan’s Mitsubishi Heavy Industries will build three of the stealth frigates in southern Nagasaki Prefecture, while Australia’s Austal will build eight in Western Australia.

The first of the Japanese-built warships is scheduled to be delivered in 2029 and enter service in 2030.

“Our surface fleet is more important than at any time in decades,” Marles said in a statement.

“These general-purpose frigates will help secure our maritime trade routes and northern approaches as part of a larger and more lethal surface combatant fleet.”

Shinjiro said closer defence coordination was becoming more important as Australia and Japan faced an “increasingly severe security environment”.

Australia’s government last year announced that it had chosen Mitsubishi Heavy Industries to build its fleet of next-generation warships, following a bidding war between the Tokyo-based firm and Germany’s Thyssenkrupp.

Australia has committed to a record $305bn in military spending over the next decade, as part of a widespread defence overhaul aimed at boosting the country’s naval power to levels not seen since World War II.

Under the plans, Canberra’s defence spending is set to rise to 3 percent of gross domestic product (GDP) by 3033, from about 2 percent now.

Australia and Japan, two of the United States’ closest allies, have ramped up military cooperation in recent years amid shared concerns about shifts in the regional security environment, particularly China’s rising influence. Tokyo and Canberra are also members of the Quad security bloc led by the US.

#Australia #Japan #sign #contracts #7bn #warships #dealEconomy, News, Business and Economy, Military, Asia Pacific, Australia">Australia and Japan sign contracts for $7bn warships deal

Defence deal is latest example of deepening ties between Canberra and Tokyo amid shared concerns over China’s rise.

Australia and Japan have signed contracts for the first three of 11 warships set to be delivered to the Australian navy under a landmark $7bn defence deal, as the two close US allies in the Asia Pacific region deepen defence cooperation.

Australia’s Defence Minister Richard Marles and Japanese Defence Minister Koizumi Shinjiro made the announcement in Melbourne on Saturday at the signing ceremony for the Mogami-class warships.

Recommended Stories

list of 4 itemsend of list

The “Mogami Memorandum” pledges to deepen military ties, including through “closer industrial cooperation” in defence.

Japan’s Mitsubishi Heavy Industries will build three of the stealth frigates in southern Nagasaki Prefecture, while Australia’s Austal will build eight in Western Australia.

The first of the Japanese-built warships is scheduled to be delivered in 2029 and enter service in 2030.

“Our surface fleet is more important than at any time in decades,” Marles said in a statement.

“These general-purpose frigates will help secure our maritime trade routes and northern approaches as part of a larger and more lethal surface combatant fleet.”

Shinjiro said closer defence coordination was becoming more important as Australia and Japan faced an “increasingly severe security environment”.

Australia’s government last year announced that it had chosen Mitsubishi Heavy Industries to build its fleet of next-generation warships, following a bidding war between the Tokyo-based firm and Germany’s Thyssenkrupp.

Australia has committed to a record $305bn in military spending over the next decade, as part of a widespread defence overhaul aimed at boosting the country’s naval power to levels not seen since World War II.

Under the plans, Canberra’s defence spending is set to rise to 3 percent of gross domestic product (GDP) by 3033, from about 2 percent now.

Australia and Japan, two of the United States’ closest allies, have ramped up military cooperation in recent years amid shared concerns about shifts in the regional security environment, particularly China’s rising influence. Tokyo and Canberra are also members of the Quad security bloc led by the US.

#Australia #Japan #sign #contracts #7bn #warships #dealEconomy, News, Business and Economy, Military, Asia Pacific, Australia

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