President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal between the U.S. and European Union on Sunday.

The announcement came moments after the two had addressed the media, agreeing that the likelihood of an agreement was about 50-50.

US President Donald Trump (R) shakes hands with European Commission President Ursula von der Leyen (L) following their meeting, in Turnberry south west Scotland on July 27, 2025 (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)

"We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15%," Trump said.

"So we have a tariff of 15%. We have the opening up of all of the European countries, which I think I could say were essentially closed. I mean, yo

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