European Commission President Ursula von der Leyen met U.S. President Donald Trump in Scotland on Sunday, July 28, in a high-stakes bid to secure a trade agreement before August 1.
The deal aims to cap EU tariffs at 15% a compromise shielding European exporters from threatened 30% duties but falling short of Brussels’ zero-tariff goal.
Currently, 70% of EU exports face U.S. tariffs, including 50% on steel/aluminum and 25% on autos. Trump warned of across-the-board 30% hikes without a deal, a move EU officials say would devastate industries. The president gave talks a “50-50 chance,” acknowledging Europe’s urgency to avoid escalation. Ahead of the meeting, U.S. and EU trade teams held intensive negotiations, with steel and aluminum rates remaining key sticking points.
For the EU, a 15% deal offers relief despite its economic toll. For Trump, it would mark his largest trade pact, exceeding this week’s $550 billion Japan accord. Failure could trigger €93 billion ($109 billion) in EU countertariffs, risking a transatlantic trade war.
