The United States and the European Union reached a framework trade deal on 27 July 2025 at President Trump's Turnberry golf resort in Scotland, setting a single 15 percent tariff ceiling on most EU goods entering the US from 1 August, instead of the 30 percent rate Trump had threatened. The agreement, announced by European Commission President Ursula von der Leyen and President Trump, was a political understanding rather than a legally binding treaty, with a joint statement following on 21 August. For steel, the outcome was limited: the 50 percent US tariff on steel and aluminium remained in place, with the two sides pledging to negotiate tariff rate quotas for EU exports at historic levels. The EU also agreed to buy 750 billion dollars of US energy over three years and to invest 600 billion dollars in the United States. Zero tariffs were agreed for aircraft and parts, certain chemicals, generic drugs and semiconductor equipment, but European steelmakers were left waiting for the quota talks to deliver relief.
Source: The Conference Board — https://www.conference-board.org/research/CED-Newsletters-Alerts/us-eu-reach-tariff-framework-deal
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