U.S., EU agree on 15% on most EU imports

With just a few days until the August deadline, the United States and the European Union have agreed on a trade deal, with a 15 percent tariff on most imports from the European bloc.

A major part of the agreement includes the EU buying 750 billion dollars worth of U.S. energy.

Lee Seung-jae starts us off.

The United States and the European Union avoided a major trade war, as the two sides agreed on a 15 percent tariff on most EU goods going into the U.S. on Sunday.

The framework trade agreement was announced by U.S. President Donald Trump and European Commission President Ursula von der Leyen during their meeting at the U.S. leader's luxury golf course in western Scotland.

"We have stabilized on a single 15% tariff rate for the vast majority of EU exports. This rate applies across most sectors, including cars, semiconductors, pharmaceuticals. This 15% is a clear ceiling. So no stacking. All inclusive."

The deal also includes a zero-for-zero tariff rate for certain strategic products.

Those goods include aircraft and aircraft parts, and certain chemicals and generic drugs.

However, no decision has been made on wine and spirits.

Also, a major part of the trade deal is the European bloc agreeing to purchase 750 billion U.S. dollars worth of energy from the U.S.

"It's going to agree to purchase from the United States $750 billion worth of energy, $750 billion worth of energy. They are going to, agree to invest into the United States $600 billion more than they're investing already. So they're investing."

The deal means the EU has now avoided Trump's initial proposal of 30 percent tariffs on goods from the EU.

The U.S. has also struck deals with the UK, Japan, Indonesia, and Vietnam.

Trump announced that three to four more countries could strike a deal with the U.S. in the coming days.

Lee Seung-jae, Arirang News.