The US and EU will reach trade contracts that set tariffs above 15%

President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to resolve the agreement.

Trump said the EU will invest $600 billion in the US and buy $150 billion in US energy, as well as purchases American weapons in a mix.

Heading towards their meeting, Trump and von der Leyen said they saw a 50-50 chance to reach the deal. Trump also ruled out drugs from any transaction and said the EU tariff rate would not fall below 15%.

The EU is already facing US 50% tariffs on steel and aluminum and 25% rates for cars and car parts. Without transactions until August 1, the EU was expected to be hit with 10% to 30% “mutual” tariffs.

Last week, Trump reached trade with Japan, setting a rate of 15%, allowing Trump to lead the funds, including a pledge that Tokyo would invest $550 billion in major US industrial sectors.

Treasury Secretary Scott Bessent said Japan’s investment offers are key to closing trade deals and could help other countries get comparable rates. Wall Street analysts expressed skepticism that money will be fully realized.

In fact, Trump suggests that the EU must “buy” the 30% tariff rate threatened and point out Japanese transactions.

If no dealings were made with the US, the EU had already planned retaliatory tariffs in advance for up to 30% on US exports of goods of more than $100 billion, including aircraft, cars, and bourbon whiskey.

Meanwhile, other US trading partners are also staring at the August 1 deadline, with Commerce Secretary Howard Lutnick saying on Sunday that no further extensions will be given.

However, the US and China are reportedly Trade ceasefire will be extended for 90 days In a speech between Bessent and the Chinese deputy prime minister, he says that Lifeng is scheduled to start in Stockholm on Monday. Without the extension, their tariff suspension was expected to end on August 12th.