EU and US agree to trade deal with 15% tariffs for European exports
The outcome appears set to lift prices for American consumers and hurt sales for European exporters, in the latest example of global brinksmanship as Trump forces tariffs on major economies in the hope of raising huge sums of revenue for the US government.
In a surprise addition to the deal, the EU agreed to buy energy worth $US750 billion from the US over the years ahead – part of the bloc's broader objective of reducing reliance on Russian gas.
Trump said the EU would also invest $US600 billion more in the US economy, echoing a vague investment pledge in a trade deal with Japan last week.
The deal was unveiled in Scotland on Sunday during Trump's visit to his golf estates, as hundreds of protesters gathered to object to his visit, while supporters chanted his name outside some of his events.
Loading
'I think this is the biggest deal ever made,' Trump told reporters after he emerged from talks with European Commission President Ursula von der Leyen.
European industries were divided on the trade dispute over recent weeks, with German car makers anxious to gain a deal because of the threat to their sales from even higher tariffs, while French industry canvassed retaliation against US demands.
Von der Leyen confirmed the 15 per cent tariff applied 'across the board' and framed the outcome as a win for stability.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News AU
42 minutes ago
- Sky News AU
‘Deliciously awkward': Journalist pits Trump versus Starmer over government online censorship
Sky News host James Macpherson discusses United States President Donald Trump's 'awkward' confrontation with UK Prime Minister Keir Starmer over government censorship and his site Truth Social. 'Trump was in Scotland overnight for a meeting with UK Prime Minister Kier Starmer and in a deliciously awkward 70-minute joint press conference, Trump did a better job holding Starmer's Labour government to account than the UK opposition have done all year,' Mr Macpherson said. 'For instance, it is well known Starmer's Labour government is cracking down on free speech … so naturally a journalist asked Donald Trump if he was worried the British government might censor him, and Trump, never one to waste a theatrical moment, delivered this gem.'
SBS Australia
44 minutes ago
- SBS Australia
Labor scrambles to anticipate Trump's next tariffs play
Labor scrambles to anticipate Trump's next tariffs play Published 29 July 2025, 6:46 am The Australian Government is scrambling to make sense of the latest remarks from the US President which suggest the nation could face higher tariffs than anticipated. As the deadline for the decision looms, the opposition remains convinced the lack of face-to-face negotiations has led to a worse outcome for Australia.
The Age
an hour ago
- The Age
Allan is wrong about NGV protest - it is fair to highlight Israel links
Shared humanity Experienced Israeli soldiers with proven loyalties are looking beyond the frontlines of Gaza's war (' Israeli soldiers and generals turning their backs on Netanyahu over Gaza ', 29/7). They see a reality in which Palestinian civilian families are mere collateral for an Israeli government resorting to violence to shroud political ambitions. (Yes, Hamas fighters also trashed Israeli civilian families). We should encourage Israel's uniformed dissidents; your correspondents' acknowledge they express a growing sentiment in Israel, against war. Yet being against war will not be enough to build a new peace. Israel needs peace as much as Palestinians do. But can Israel even start down that path while its occupation, laws, regulations and budgets ensure Palestinians remain subjects or second-class citizens? The Jewish state's reputation will fully recover, along with its security, when its people acknowledge the full humanity of others. Ken Blackman, Inverloch Loading Going backwards So Barnaby Joyce feels he is 'compelled' to repeal the net zero target because 'his community felt too passionately about the wide scale of solar and wind farms in the regions'. (28/7). It's worth mentioning that he has spent the past 20 years spreading misinformation about climate change and the transition to renewable energy needed to address it. That he and his fossil fuel friends have been astroturfing protests against renewable energy projects. Joyce's efforts have undoubtedly been successful in New England, where he received 67.14 per cent of the two-party vote at the last election. Joyce also claims, with absolutely no evidence, that our net zero target will 'have absolutely no effect on the climate'. Yet cutting emissions is the primary requirement to avoid a climate catastrophe. This is why more than 100 countries have zero emissions targets. Some, like China (2060) and India (2070), a bit later, and some a bit early, like Finland (2035) and Germany (2045). His claim is nonsense, like his earlier prediction of $100 roasts. Barnaby Joyce certainly won't give up on his favoured wedge issue, especially now that it can be used to wedge his own Coalition colleagues and perhaps rekindle his own leadership ambitions. Graeme Henchel, Yarra Glen Winning at dealing Like him or loathe him, Trump is no fool when it comes to money. He enters every 'deal' from a position of strength and on his own ground. Every other party enters in weakness. We first saw this in the Trump-Starmer (UK) deal. America the winner. Now it's the EU's turn. Have a close look at the expression on the faces of the two negotiators (' EU and US agree to trade deal with 15% tariffs for European exports ', 28/7). Trump's first strike allowed plenty of room for painless compromise. Yet again, a win for America. It remains to be seen how Australia will get on given we have already agreed to accept American beef, to no apparent advantage for Australia. Jim Lamborn, Doncaster Deal is a hoax Is this EU deal the biggest, the most beautiful, the most unbelievably fantastic hoax perpetrated on the American people in US history by the unparalleled shyster of all time? What a wondrous thing to watch the Trumpmeister perpetrate a reverse GST on his people by introducing across the board tariffs and getting importers and exporters to collect the tax from consumers, apparently solving the debt crisis. But get this, this comes while at the same time he releases the wealthy from contributing taxes to the welfare of American society under his Big Beautiful Bill. You've gotta hand it to the most successful carpet bagger in American history. Pier Paolo De Carlo, Ascot Vale Tariffs for peace So the Palestinians won't come to the party with Israel on peace negotiations for the Gaza Strip? It is time for the Great Deal Maker to step up. Trump only needs to threaten the Gaza Strip with a 150 per cent tariff on all their exports to the US and they will soon be begging for a deal. Christopher Rogers, Killawarra Finding answers Timely advice from Peter Hartcher (' Good journalism can seek solutions ', 29/7). Yes, we are so dispirited by bad news with seemingly no solutions. Taking climate change action as an example, Barnaby Joyce and others would take us back into the climate wars with his insistence of retreating from the net zero target for emissions ('Hanson hits out at Ley, tests coalition resolve on net zero', 29/7). We all know we could well fail to reach our targets in the prescribed time and see all around us evidence of worsening climate disasters. We need to move forward with solutions, which are more achievable working together. Yet we have various individuals focusing on their own goals of self elevation and party dominance. The public is certainly influenced by journalism and hence solution-focused writing would not only be welcome but essential in this extremely important area. Jan Marshall, Brighton A relief from gloom I keenly read Peter Hartcher's article on journalism seeking solutions. With the constant barrage of hard news reporting, it is little wonder that mental health issues such as anxiety and depression are increasing. It would be a relief if journalists could refocus on constructive solutions instead of high drama, gloom and doom, winners and losers, and report to readers on useful problem-solving strategies where at times positive change can happen. Helen Clements, Mt Waverley Privatising our park The latest moves to remove 34 mature trees from Albert Park while extending the lockout period to three weeks is another disgraceful example of privilege and privatisation of public utilities to serve the few. For a three-day annual event! (' Public lockout at Park ', 29/7). The original charter for the F1 race was that it would be short term. It makes an annual loss taxpayers subsidise while the owners reap the profit – if only there was transparency regarding the actual finances but good old 'commercial in confidence' covers that. Denise Stevens, St Kilda Chopper damage Shame on all connected with the environmental carnage that will follow in Swan Bay (' Helicopter landing site riles locals in this prized coastal area ', 29/7). In January at Lakers Cutting, I watched a military helicopter with its twin rotors roar low across the water. It sent pelicans, spoonbills, swans and ducks into a panic. As they spiralled off their peaceful patch, it appeared that they, the helicopter pilot and crew could all be imperilled in a devastating collision. Surely this is a worrying situation for James Ramsey, his precious toy chopper and the unfortunate birdlife when he takes off and lands. Alan McLean, Queenscliff Birds can handle it Helicopters are not an uncommon sight down here at the coast. When someone is in trouble they actually help to save lives. One private helicopter lifting off and gone in minutes won't annoy the swans - ever heard them honk? Margaret Skeen, Point Lonsdale The wrong bikes eBikes have been in the news lately; but what is an eBike? Let us not confuse electric bicycles and scooters with eBikes. An electric bike or scooter moves under battery power and can travel at great speeds, whereas an eBike requires a rider to actually pedal to create forward movement. The battery on an eBike is simply there to make pedalling easier. So let's get those electric bikes and scooters off footpaths and maybe have them registered. But eBikes do not need further controls as they present no danger. Alan Thomas, Hawthorn Kiwi rockets Elizabeth Knight's story on the DORKs meme stocks (' Love-bombing hits the market in revenge of the DORKs ', 28/7) correctly identified that Rocket Lab was an outlier because 'its shares had already taken off thanks to launching several satellites'. However, this undervalues Rocket Lab's impressive credentials. This New Zealand-founded, US headquartered company has made 63 launches of 224 satellites with manufacturing and launch facilities in the US and NZ, which in the past four years has positioned NZ as the fifth-ranked country globally for commercial space launches after the US, China, Russia and Europe. How about a story on how and why NZ has 'rocketed' ahead of Australia in the commercial space sector? Disclaimer: I have no affiliation with Rocket Lab and own no shares in the company. But I am a proud Kiwi-Australian! Rick Ede, Mont Albert AND ANOTHER THING Barnaby Joyce Barnaby Joyce rejects climate change action (' Why Barnaby's war on net zero's already sunk ', 25/7). What about government assistance to farmers impacted by drought, floods and bushfires exacerbated by climate change? Peter Baddeley, Portland The sooner the Nationals merge with One Nation the better. The Liberals will then only have themselves to fight with. Randall Bradshaw, Fitzroy AFL Six/six/six: what a nonsense rule (' How the Demons' history-making horror show unfolded ', 28/7). These guys are not under 10s. How long before the AFL introduces an offside rule? John Walsh, Watsonia Please no Snoop Dogg at the AFL grand final. I'm still trying to get over Meatloaf all those years ago. We have much more talent on the local scene. John Bye, Elwood Loading Furthermore Your correspondent (' Underwhelming 100 ', Letters, 29/7) begrudges those younger than her voting for a Veronicas song that she does not consider a true classic, in the same way my parents would perhaps bemoan my not including Sadie the Cleaning Lady in classics of my era. Ageing is a funny business. Julian Guy, Mt Eliza Trump steak? (Letters, 28/7). Hard to chew and even harder to swallow. Greg Curtin, Nunawading An Ansett branded 'AI-powered travel agency' (' Ansett embarks on new adventure for travellers without taking flight ', 29/7) appeals to me even less than MG branded Chinese economy sedans and wagons. Maybe that's because I remember both Australia's Ansett Airlines and British MGBs. Lawrie Bradly, Surrey Hills Finally When a date is agreed for the end of coins and banknotes in favour of 100 per cent electronic 'card' transactions, will I be compensated for the obvious cost savings; and the end of occasional finds of a coin on the ground or a $5, $10, etc note blowing across my path? Malcolm Cameron, Camberwell
