US-EU Trade Deal: European Leaders React

European Union leaders have expressed satisfaction with the EU-US trade agreement signed in Scotland, averting a trade war.

European Commission President Ursula von der Leyen stated that the agreement “provides stability and predictability.” The agreement includes a 15% tariff on European products entering the US, while the EU will purchase $750 billion worth of American energy and invest an additional $600 billion in the US.

German Chancellor Friedrich Merz said the agreement prevents a trade war and a serious blow to the automotive industry. Italian Prime Minister Giorgia Meloni described the trade agreement as positive, while Irish Prime Minister Simon Harris emphasized that the agreement provides certainty for businesses.

European Council President António Costa congratulated the negotiating team for stabilizing transatlantic trade.

The agreement also includes zero tariffs on aircraft, chemicals, generic drugs, semiconductors, agricultural products, natural resources, and critical raw materials.