Contents of historic US-EU trade deal

The European Union (EU) has reached a comprehensive trade deal with the United States, ending months of tense negotiations.

RT reported on July 27 that the EU has reached a comprehensive trade agreement with the US. Accordingly, most EU exports to the US will be subject to a basic tariff of 15%.

The deal was finalized on July 27 during a key meeting between US President Donald Trump and European Commission President Ursula von der Leyen in Scotland. Mr. Trump and Ms. von der Leyen hailed the deal as a “strong” and “stable” breakthrough after months of tense negotiations.

US President Donald Trump (right) shakes hands with European Commission President Ursula von der Leyen during a meeting. Photo: USA Today.

"We have reached an agreement that brings stability. Mr Trump called it the biggest deal of all. It solves a lot of problems. It's a great decision," Ms von der Leyen told reporters after the 40-minute meeting.

Under the deal, EU goods imported into the US, including cars, pharmaceuticals and semiconductors, will be subject to a 15% tariff. Previously, EU-made cars faced a 25% tariff while steel and aluminum products were subject to tariffs of up to 50%.

Also under the deal, the EU pledged to buy $750 billion in US energy exports and invest an additional $600 billion in the US economy .

"The EU will buy hundreds of billions of dollars of military equipment," President Trump said.

Negotiations between the US and the EU have reportedly lasted four months, with the EU preparing to retaliate with 30% tariffs on $100 billion worth of US goods if talks break down.

>>> Readers are invited to watch more videos : President Trump signs an executive order on new tariff policy on April 2

Video source: BBC.

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