President Donald Trump announced a sweeping trade agreement with the European Union (EU) on Sunday, setting a baseline 15 percent tariff on European imports including automobiles while keeping existing 50 percent duties on steel and aluminum in place.
As part of the deal, the EU committed to purchasing $750 billion in U.S. energy products.
The EU will purchase three-quarters of a trillion dollars in U.S. energy, while also investing $600 billion into America on top of existing investments. Additionally, EU countries will be setting tariffs on U.S. goods at zero percent, and Europe agreed “topurchase a vast amount of military equipment,” Trump said.
“We don’t know what that number is,” he said, but went on to note that the purchase of military equipment would be in the “hundreds of billions of dollars.”
Moreover, the EU will pay a 15 percent tariff rate to import products into the U.S., ranging from automobiles to other goods.
“So we have a tariff of 15% we have the opening up of all of the European countries, which I think I could say were essentially closed,” Trump said. “I mean, you weren’t exactly taking our orders, you weren’t exactly taking our agriculture, and then you would have smaller things, but for the most part, it was closed, and now it’s open.”
About The Author
Discover more from Faith & Freedom News - FFN
Subscribe to get the latest posts sent to your email.
