EU chief to satisfy Trump in Scotland in push to safe a US commerce deal

European Fee President Ursula von der Leyen will meet with U.S. President Donald Trump in Scotland over the weekend, aiming to achieve a framework commerce settlement shortly earlier than a 30% tariff on EU imports takes impact.

In a put up on social media platform X on Friday, the EU’s von der Leyen stated she had agreed to satisfy with the U.S. president on Sunday “to debate transatlantic commerce relations, and the way we are able to maintain them sturdy.”

Trump later confirmed the assembly would happen as he arrived in Scotland on Friday night, saying, “We’ll see if we are able to make a deal.”

“I feel we have now a very good 50/50 probability. That is rather a lot,” he added.

It comes amid a way of rising optimism concerning the prospect of a tariff breakthrough, with sources telling CNBC that the present base-case situation for a deal features a 15% tariff on EU imports to the U.S.

Trump has threatened to impose tariffs of 30% on EU items starting Aug.1, prompting the EU to think about countermeasures as a part of its response.

The U.S. and EU have the most important bilateral commerce and funding relationship on this planet, representing nearly 30% of world commerce in items and providers, and accounting for 43% of world gross home product, in line with EU figures.

Trump’s four-day, golf-heavy go to to Scotland can be anticipated to incorporate an off-the-cuff assembly with U.Ok. Prime Minister Keir Starmer.

Not like the EU, the U.Ok. not too long ago struck a commerce take care of the Trump administration, one which is centered on a ten% tariff baseline on British items arriving within the U.S.

The European Fee’s chief spokesperson, Paula Pinho, stated Saturday that “intensive negotiations” on the technical and political degree had been ongoing between the EU and U.S.

“Leaders will now take inventory and think about the scope for a balanced consequence that gives stability and predictability for companies and shoppers on either side of the Atlantic,” Pinho stated.

Hopes of the U.S. and EU averting a transatlantic commerce battle by Aug. 1 have been buoyed at the very least partly by the latest announcement of a framework settlement between the U.S. and Japan.

The U.S.-Japan deal, which Trump described in a social media put up as “maybe the most important Deal ever made,” features a baseline tariff charge of 15%.

Jack Allen-Reynolds, deputy chief euro zone economist at Capital Economics, stated Friday {that a} related framework for the EU could be seen as a case the place a foul deal is healthier than no deal in any respect.

“Studies this week counsel that the EU and US are on the point of agreeing a commerce take care of a 15% baseline tariff on US imports from the bloc. It is onerous to spin it as a very good deal, however it might at the very least keep away from a lot larger US tariffs and retaliation from the EU,” Allen-Reynolds stated in a analysis be aware.

— CNBC’s Silvia Amaro contributed to this report.