Just days before his self-imposed August 1 deadline, President Donald Trump announced Sunday that the United States and the European Union (EU) have come to terms on a massive trade agreement.
After weeks of back-and-forth Trump touted the terms of the watershed agreement as the “biggest” trade deal of them all.
Trump announced the deal while visiting Scotland.
.@POTUS announces a landmark trade deal with the European Union: "I think it's the biggest deal ever made." pic.twitter.com/HqVK2yCTti
— Rapid Response 47 (@RapidResponse47) July 27, 2025
Sitting with European Commission President Ursula von der Leyen in Turnberry, Scotland, Trump read off a piece of paper the various major takeaways from their agreement, including:
- Purchase $750 billion worth of energy from the United States
- Agree to invest $600 billion more than the bloc is already investing
- Open up its countries up to trade with America
- Buy a “vast amount” of military equipment
- Tariffs for automobiles and other EU imports will be a “straight across” rate of 15%
- 50% levies on steel and aluminum for U.S. trade partners would remain in effect.
Von der Leyen affirmed that a deal had been struck.
“It’s the biggest of all the deals,” Trump declared.
“We have a trade deal between the two largest economies in the world — and it’s a big deal. It’s a huge deal. It will bring stability. It will bring predictability. That’s very important for our businesses on both sides of the Atlantic,” she said.
The breakthrough comes after Trump set an August 1 deadline for countries to reach a trade deal with the United States or endure higher tariff rates. The EU was facing a penalty of 30% on imports.
Von der Leyen noted during the announcement that a “starting point” was rectifying an “imbalance” in which the EU side had a “surplus” and the United States had a “deficit.”
She also said the deal would “enable trade on both sides, which means good jobs on both sides of the Atlantic.”
It was not reported on what, if any, concessions Trump made in the discussions.
This is the biggest trade deal since Trump declared “Liberation Day” back in April.
Since then, Trump has help negotiate and broker framework agreements with countries such as China, the United Kingdom, and Indonesia.
Trump revealed last week that Japan would invest over half a trillion dollars into the United States in “perhaps the largest Deal ever made.”
South Korea is working on a trade proposal before it faces a tariff hike at the beginning of next month, according to reports.
This is an ongoing story. Check back for further updates.