On 27 July 2025, European Commission President Ursula von der Leyen and US President Donald J. Trump agreed a deal on tariffs and trade. The key commitments of both sides include: establishing a single, all-inclusive US tariff ceiling of 15% for EU goods, providing special treatment for strategic products, liberalising certain trade sectors, aimed at strengthening transatlantic economic cooperation and boosting mutual market access.

Discussions continue on various aspects of the deal, including the scope of tariff exemptions and the implementation timeline. Both sides are working towards finalizing the agreement to ensure stability and predictability in transatlantic trade relations.

The transatlantic partnership is a key artery of global trade and is the most significant bilateral trade and investment relationship in the world. EU-US trade in goods and services has doubled over the last decade, surpassing €1.6 trillion in 2024, with €867 billion of trade in goods and €817 billion of trade in services.

That is over €4.2 billion of goods and services crossing the Atlantic every day. The deal secures continued access for EU exports to the US market preserving deeply integrated value chains – many of which rely on SMEs – and effectively safeguarding jobs. It also provides the basis for continued collaboration between the EU and US.