The United States and the European Union on Thursday executed the verbal agreement President Donald Trump and European Commission President Ursula von der Leyen reached in Scotland late last month, including lowering tariffs on automobiles and other sectors to 15 percent.
The White House framed the statement as an important step toward reaching a comprehensive deal with the 27-nation bloc, collectively the United States’ largest trading partner.
“These are ambitious things and we expect in the coming weeks … to fully paper over the agreement,” a senior administration official told reporters Wednesday evening ahead of the announcement.
The joint statement affirms several aspects of the verbal agreement the president unveiled July 27, including a 15 percent tariff rate on most goods — half the 30 percent rate Trump had threatened. That includes critical sectors like autos, following weeks of uncertainty that had frustrated the EU.
