US and EU Conclude Trade Negotiations, 15% Across the Board... South Korea Cornered

【Silicon Valley = Hong Chang-gi Correspondent】 

The United States and the European Union (EU) have avoided a transatlantic trade war. On the 27th (local time), trade negotiations were concluded in a meeting between President Donald Trump and Ursula von der Leyen, President of the EU Commission.
According to the New York Times (NYT) and others on the 27th (local time), the US concluded a trade agreement imposing a 15% tariff on all EU goods.
After a meeting with Ursula von der Leyen, President of the EU Commission, in Turnberry, Scotland, UK, President Trump said, "This conclusion of negotiations will bring unity and friendship between the US and EU."
President von der Leyen also responded, "This agreement will bring stability."
With the conclusion of the trade negotiations, the US will impose a 15% tariff on all items, including EU cars.
Notably, like the conclusion of negotiations with Japan, the EU promised to make a large investment in the US. The EU will invest a total of 600 billion dollars (approximately 830 trillion 700 billion won) in the US. Japan's investment amount in the US was 500 billion dollars (approximately 692 trillion 250 billion won).
Additionally, in the trade agreement, the EU included the purchase of 150 billion dollars (approximately 207 trillion 700 billion won) worth of US energy. The EU will also purchase US military equipment.






theveryfirst@fnnews.com Hong Chang-gi Reporter