President Donald Trump announced a sweeping deal with the European Union that he claimed was "the biggest deal ever made" on Sunday (July 27), the New York Post reports.
The EU will reportedly purchase $750 billion of American energy and invest an additional $600 billion more than it currently is in U.S. goods, while also facing a new 15% tariff. Trump announced the deal while meeting with EU Commission President Ursula von der Leyen at his United Kingdom hotel.
“I think it’s the biggest deal ever made,” Trump said via the New York Post.
The president also said that the EU deal would address ongoing trade issues, but clarified “pharmaceuticals won’t be part of it, because we have to have them made in the United States.”
The president said it would likely be confirmed after about an hour whether the deal would be completed before the August 1 deadline as there are still three or four sticking points, but didn't clarify specifics about what they were. Trump also addressed several grievances with European trade practices, specifically dealing with automobiles and agriculture, though it wasn't clear if those were the sticking points he referred to.
“We don’t sell cars into Europe. We don’t sell, essentially, agriculture of any great degree. They want to have their farmers do it, and they want to have their car companies do it,” Trump said. “I’m not saying anything that nobody knows. We have a rough situation. If we want to sell cars in Europe, we’re not allowed to. And as you know, they sell millions and millions of cars [into the US],” he added. “What we want to do is make everybody happy.”