U.S. and EU Seal Landmark Trade Agreement Worth Trillions

The United States and the European Union have reached a historic trade agreement, announced on July 27, marking a major step toward deepening economic ties between the two global powers.

President Donald Trump revealed that as part of the deal, the EU has committed to purchasing $750 billion worth of U.S. energy and hundreds of billions of dollars in American military equipment. In addition, the European Union has pledged to invest $600 billion directly into the U.S. economy.

Tariffs across most sectors—including automobiles—will be set at 15%, according to Trump. He added that the EU has also agreed to open its markets to U.S. goods at ”zero tariff” levels in certain areas.

“That basically concludes a deal,” Trump stated during the announcement.

European Commission President Ursula von der Leyen confirmed the tariff structure, describing the 15% rate as “across the board.” She emphasized that the agreement is expected to bring much-needed stability to transatlantic trade relations.

Bitcoin Reacts to Trade News

This isn’t the first time global trade news has impacted crypto markets. Bitcoin experienced a similar surge earlier in the week, climbing from around $118,500 to $119,500 before retreating slightly. That rally was triggered by a report from the South China Morning Post, suggesting the U.S. and China may extend their tariff truce by another 90 days during upcoming trade talks in Stockholm on July 28.

Featured image from: npr.com