US-EU deal sets a 15% tariff on most goods and averts the threat of a trade war with a global shock

EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

The sweeping announcement came after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland. Their private sit-down culminated months of bargaining, with the White House deadline Friday nearing for imposing punishing tariffs on the EU's 27 member countries.

“It was a very interesting negotiation. I think it’s going to be great for both parties,” Trump said. The agreement, he said, was “a good deal for everybody” and “a giant deal with lots of countries.”

Von der Leyen said the deal “will bring stability, it will bring predictability, that’s very important for our businesses on both sides of the Atlantic.”

As with other, recent tariff agreements that Trump announced with countries including Japan and the United Kingdom, some major details remain pending in this one.

Trump said the EU had agreed to buy some $750 billion worth of U.S. energy and invest $600 billion more than it already is in America — as well as make a major military equipment purchase. He said tariffs “for automobiles and everything else will be a straight across tariff of 15%” and meant that U.S. exporters ”have the opening up of all of the European countries.”

Von der Leyen said the 15% tariffs were “across the board, all inclusive” and that “indeed, basically the European market is open.”

At a later news conference away from Turnberry, she said the $750 billion in additional U.S. energy purchases was actually over the next three years — and would help ease the dependence on natural gas from Russia among the bloc’s countries.

“When the European Union and the United States work together as partners, the benefits are tangible,” Von der Leyen said, noting that the agreement “stabilized on a single, 15% tariff rate for the vast majority of EU exports" including cars, semiconductors and pharmaceuticals.

“15% is a clear ceiling,” she said.

But von der Leyen also clarified that such a rate wouldn’t apply to everything, saying that both sides agreed on “zero for zero tariffs on a number of strategic products,” like all aircraft and component parts, certain chemicals, certain generic drugs, semiconductor equipment, some agricultural products, natural resources and critical raw materials.

It is unclear if alcohol will be included in that list.

“And we will keep working to add more products to this list,” she said, while also stressing that the “framework means the figures we have just explained to the public, but, of course, details have to be sorted out. And that will happen over the next weeks.”

In the meantime, there will be work to do on other fronts. Von der Leyen had a mandate to negotiate because the European Commission handles trade for member countries. But the Commission must now present the deal to member states and EU lawmakers, who will ultimately decide whether or not to approve it.

Before their meeting began, Trump pledged to change what he characterized as “a very one-sided transaction, very unfair to the United States.”

"I think both sides want to see fairness,” the Republican president told reporters.

Von der Leyen said the U.S. and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars and added that Trump was “known as a tough negotiator and dealmaker."

“But fair,” Trump said.

Trump has spent months threatening most of the world with large tariffs in hopes of shrinking major U.S. trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to “buy down” a tariff rate of 30% that had been set to take effect.

But during his comments before the agreement was announced, the president was asked if he'd be willing to accept tariff rates lower than 15%, and he said “no.”

Their meeting came after Trump played golf for the second straight day at Turnberry, this time with a group that included sons Eric and Donald Jr. In addition to negotiating deals, Trump's five-day visit to Scotland is built around golf and promoting properties bearing his name.

A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Trump on Monday.

Other voices could be heard cheering and chanting “Trump! Trump!” as he played nearby.

On Tuesday, Trump will be in Aberdeen, in northeastern Scotland, where his family has another golf course and is opening a third next month. The president and his sons plan to help cut the ribbon on the new course.

The U.S. and EU seemed close to a deal earlier this month, but Trump instead threatened the 30% tariff rate. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but is now firm and coming Friday, the administration insists.

“No extensions, no more grace periods. Aug. 1, the tariffs are set, they’ll go into place, Customs will start collecting the money and off we go," U.S. Commerce Secretary Howard Lutnick told “Fox News Sunday" before the EU deal was announced. He added, however, that even after that “people can still talk to President Trump. I mean, he’s always willing to listen.”

Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes.

If Trump eventually followed through on his threat of tariffs against Europe, meanwhile, it could have made everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the United States.

“I think it’s great that we made a deal today, instead of playing games and maybe not making a deal at all,” Trump said. “I think it’s the biggest deal ever made.”

Associated Press writers Seung Min Kim in Cincinnati and Samuel Petrequin in London contributed to this report.

President Donald Trump and European Commission President Ursula von der Leyen shake hands after reaching a trade deal at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump holds a paper after reaching a trade deal with European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump and European Commission President Ursula von der Leyen shake hands after reaching a trade deal at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump gestures as he meets European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump meets European Commission President Ursula von der Leyen for talks at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump and European Commission President Ursula von der Leyen speak as they meet at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump gestures as he meets European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump shakes hands with European Commission President Ursula von der Leyen as they meet at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)

President Donald Trump steers a golf cart at the Trump Turnberry golf course in Turnberry, Scotland, Sunday, July 27, 2025.(AP Photo/Alastair Grant)

President Donald Trump plays golf at the Trump Turnberry golf course in Turnberry, Scotland, Sunday, July 27, 2025.(AP Photo/Alastair Grant)

President Donald Trump waves to reporters as he steers his golf cart at the Trump Turnberry golf course in Turnberry, Scotland, Sunday, July 27, 2025.(AP Photo/Alastair Grant)

President Donald Trump gestures as he plays golf at the Trump Turnberry golf course in Turnberry, Scotland, Sunday, July 27, 2025.(AP Photo/Alastair Grant)

President of the European Commission Ursula von der Leyen speaks during a press conference with President of the European Council Antonio Costa after attending the China EU Summit with Chinese leaders, in Beijing, Thursday, July 24, 2025. (AP Photo/Andy Wong)

Police forces with dogs search the area at the Trump Turnberry golf course in Turnberry, Scotland, Saturday, July 26, 2025 as President Donald Trump begins his five-day private trip to the country.(AP Photo/Alastair Grant)

European Commission President Ursula von der Leyen speaks during the EU-China Business leaders symposium at the Great Hall of the People in Beijing, China, Thursday, July 24, 2025. (AP Photo/Mahesh Kumar A., Pool)

President Donald Trump steers a golf cart at the Trump Turnberry golf course in Turnberry, Scotland, Saturday, July 26, 2025.(AP Photo/Alastair Grant)

SAN ANTONIO (AP) — Victor Wembanyama returned from a first-quarter injury scare to score 22 points and grab 10 rebounds and lead the San Antonio Spurs to a 119-101 victory over the Milwaukee Bucks on Thursday night.

Stephon Castle added 19 points and 10 assists and Julian Champagnie had 13 points and 11 rebounds for San Antonio. The Spurs led by 39 points early in the fourth quarter.

Giannis Antetokounmpo had 21 points as Milwaukee suffered its third straight loss.

It was the Bucks' second straight lopsided loss after being booed at home during a 139-106 setback to the Minnesota Timberwolves on Tuesday.

Wembanyama startled the sellout crowd at the Frost Bank Center and it had nothing to do with his freshly shaved scalp.

He returned to the court after making knee-to-knee contact with Antetokounmpo's left leg under the Bucks basket with 9:18 remaining in the first quarter. Wembanyama dropped to the court in pain before rising and hobbling unassisted in a half sprint toward the locker room.

The 7-foot-4 center from France suffered a hyperextended knee on Dec. 31 in the fourth quarter against the New York Knicks in a similar play. He returned to watch from the bench on New Year's Eve but missed the next two games.

Wembanyama returned to the bench at the close of the first quarter Thursday, but this time he went back on the court to start the second quarter.

Wembanyama had 11 points, six rebounds and a blocked shot while playing 12 minutes, 27 seconds in the second quarter.

San Antonio outscored Milwaukee 35-26 during the second quarter in taking a 66-53 lead at the half. The lead expanded to 37 points in the third quarter as both teams sat their starters to open the fourth.

Kyle Kuzma had 18 points and Bobby Portis added 13 points for the Bucks.

Bucks: At Atlanta on Monday night.

Spurs: Host Minnesota on Saturday night.

AP NBA: https://apnews.com/hub/NBA

Milwaukee Bucks guard Ryan Rollins (13) scores past San Antonio Spurs forward Harrison Barnes (40) and forward Victor Wembanyama (1) during the second half of an NBA basketball game in San Antonio, Thursday, Jan. 15, 2026. (AP Photo/Eric Gay)

Milwaukee Bucks center Myles Turner (3) and guard Ryan Rollins, second from right, battle San Antonio Spurs center Luke Kornet, left, and guard De'aaron Fox, right, for a rebound during the first half of an NBA basketball game in San Antonio, Thursday, Jan. 15, 2026. (AP Photo/Eric Gay)

Milwaukee Bucks forward Giannis Antetokounmpo (34) is blocked as he drives to the basket against San Antonio Spurs forward Victor Wembanyama (1) during the second half of an NBA basketball game in San Antonio, Thursday, Jan. 15, 2026. (AP Photo/Eric Gay)

San Antonio Spurs guard Dylan Harper (2) scores over Milwaukee Bucks guard Ryan Rollins (13) during the second half of an NBA basketball game in San Antonio, Thursday, Jan. 15, 2026. (AP Photo/Eric Gay)

San Antonio Spurs forward Victor Wembanyama, left, drives against Milwaukee Bucks forward Giannis Antetokounmpo (34) during the second half of an NBA basketball game in San Antonio, Thursday, Jan. 15, 2026. (AP Photo/Eric Gay)