STORY: The United States has struck a framework trade deal with Europe, U.S. President Donald Trump announced on Sunday (July 27), averting a spiraling row between two allies who account for almost a third of global trade.

The deal, that includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment, will bring welcome clarity for EU companies.

However, the baseline tariff of 15% will be seen by many in Europe as a poor outcome compared to the initial European ambition of a zero-for-zero tariff deal, although it is better than the threatened 30% rate.

The announcement came after European Commission President Ursula von der Leyen travelled to Scotland for talks with U.S. President Donald Trump to push a hard-fought deal over the line.

DESCRIPCIÓN DE IMÁGENES

VIDEO SHOWS: MOMENT US PRESIDENT DONALD TRUMP ANNOUNCES US-EU TRADE DEAL

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SHOWS: TURNBERRY, SCOTLAND, UNITED KINGDOM (JULY 27, 2025) (US POOL - No use US)

1. (SOUNDBITE) (English) US PRESIDENT, DONALD TRUMP, SAYING:

"Thank you very much. So we have good news. We've reached a deal. It's a good deal for everybody, I believe. And it's... I think you were saying this is probably the biggest deal ever reached in any capacity - trade or beyond trade -

URSULA VON DER LEYEN (English): "It is."

TRUMP: "It's a giant deal with lots of countries, because, as you know, Ursula represents a lot of countries, Not one countries. Say, it's not easy for you. It's because a lot of very different countries, great countries, but some are strong with cars, some are strong with agriculture, some are strong with both. Right. You have a lot of different factors."