‘Probably will know in an hour…’: Donald Trump and EU chief begin trade deal talks in Scotland; seen as make-or-break
US-EU trade deal: US President Donald Trump has begun trade deal talks with European Union chief Ursula von der Leyen in Scotland. Ahead of the talks, Trump spoke of the likelihood of a trade deal saying, “..probably will know in an hour.”Trump and Ursula von der Leyen are looking to resolve a prolonged transatlantic trade dispute as the deadline approaches.Earlier Trump indicated a 50 percent probability of reaching an agreement with the European Union, which faces a reciprocal tariff of 30% unless a trade agreement is secured by August 1, with US officials confirming on Sunday that “no extensions” would be granted.Von der Leyen’s European Commission, representing EU member states, is actively pursuing an agreement to protect trade relations valued at $1.9 trillion annually in goods and services.An EU diplomatic source told AFP that a framework for agreement emerged following late-night discussions on Saturday, several crucial matters remained unresolved.The ultimate decision remains with Trump.A diplomatic source was quoted as saying that while a political agreement exists, it awaits Trump’s approval, who is maintaining negotiations until the final moment.The suggested arrangement includes a standard 15% tariff on European Union exports to the US, matching Japan’s agreement, with exemptions for crucial industries such as aircraft and spirits, excluding wine.EU member states must ratify any agreement. Their ambassadors, whilst in Greenland, received updates from the commission and planned subsequent meetings following potential agreement confirmation.The EU representative indicated that the 27 nations broadly supported the proposed arrangement, whilst maintaining their established negotiating positions.The summit between Trump and von der Leyen is taking place at Turnberry along Scotland’s southwestern shoreline, at the president’s golf establishment, where he spent considerable time playing over the weekend.Trump, aged 79, expressed on Friday his aspiration to achieve a significant agreement with the EU.“I think we have a good 50-50 chance,” the president stated, noting approximately 20 unresolved matters.
