Tidbits, Trade Deals, Fall Delivery Basis, FOB 7/28/25
- Wright team
- Jul 28
- 5 min read
Tidbits
The U.S. struck a framework trade deal with the EU on Sunday, imposing a 15% import tariff on most EU goods, but averting a spiraling battle between the two economic powers which account for almost a third of global trade. The announcement came after European Commission President Ursula von der Leyen traveled for talks with President Trump at his golf course in Western Scotland. They shook hands on a hard-fought deal.
The deal mirrors key parts of the framework agreement the United States clinched with Japan last week. The 15% tariff will not apply to steel and aluminum, which will remain at 50% tariff, although von der Leyen said it would be cut and replaced with a quota system. The deal includes $600 billion EU investments in the U.S. with more EU energy and defense purchases.
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