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 publish 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 will preserve them sturdy.”

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

“I feel now we have a great 50/50 probability. That is lots,” 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 the planet, representing virtually 30% of world commerce in items and companies, and accounting for 43% of world gross home product, in accordance 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.

In contrast to the EU, the U.Ok. not too long ago struck a commerce cope with 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 contemplate the scope for a balanced end result 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 conflict by Aug. 1 have been buoyed no less than partially by the current announcement of a framework settlement between the U.S. and Japan.

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

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

“Reviews this week counsel that the EU and US are on the point of agreeing a commerce cope with a 15% baseline tariff on US imports from the bloc. It is laborious to spin it as a great deal, however it will no less than keep away from a lot larger US tariffs and retaliation from the EU,” Allen-Reynolds stated in a analysis observe.

— CNBC’s Silvia Amaro contributed to this report.