Trump Reads Off The Agreements Made In Massive US-EU Trade Deal

Forbes Breaking News

During a press briefing with EU President Ursula von der Leyen on Sunday, President Trump spoke about the US-EU trade deal.

Transcript

00:00It's a good deal for everybody, I believe.

00:04And it's, I think you were saying this is probably the biggest deal ever reached in any capacity, trade or beyond trade.

00:12It is.

00:13It's a giant deal with lots of countries, because, as you know, Ursula represents a lot of countries, not one country.

00:20It's not easy for you, because a lot of very different countries, great countries.

00:25But some are strong with cars, some are strong with agriculture.

00:28Some are strong with both, right?

00:31You have a lot of different factors.

00:34So we're going to do the following.

00:36The European Union is going to agree to purchase from the United States $750 billion worth of energy.

00:52$750 billion worth of energy.

00:54They are going to agree to invest into the United States $600 billion more than they're investing already.

01:08So they're investing a large amount of money.

01:12You know what that amount of money is.

01:14It's very substantial.

01:15But they're going to invest an additional $600 billion.

01:20They're agreeing to open up their countries to trade at zero tariff.

01:29So that's a very big factor.

01:31Opening up their countries.

01:33All of the countries will be opened up to trade with the United States at zero tariff.

01:37And they're agreeing to purchase a vast amount of military equipment.

01:44We don't know what that number is.

01:45But the good news is we make the best military equipment in the world.

01:49So sort of you have to do that, I mean, until somebody tops us, which is not going to happen.

01:54We're way ahead of every other country in terms of the quality of the military equipment.

01:58You saw that recently in Iran, and you see that, unfortunately, you see that often for all the wrong reasons, right?

02:08So those things are $750 billion, $600 billion opening up the country.

02:15We are agreeing that the tariff straight across for automobiles and everything else will be a straight across tariff of 15%.

02:30So we have a tariff of 15%.

02:34We have the opening up of all of the European countries, which I think I could say were essentially closed.

02:42I mean, you weren't exactly taking our autos, you weren't exactly taking our agriculture, and then you would have smaller things.

02:49But for the most part, it was closed.

02:52And now it's open.

02:54It's open for our companies to go in and do a good job with it.

02:57I think you'll like them.

02:58I think you'll like it.

03:00And we will, very importantly, they'll be investing a lot of money.

03:05But the military is a big number, but that's one number we're not determining.

03:08It's going to be whatever it is.

03:09But they're going to be purchasing hundreds of billions of dollars worth of military equipment.

03:16They're very important.

03:18They're going to purchase $750 billion worth of energy.

03:26So that's going to be great.

03:28And $600 billion worth of investments into the United States over and above what they have.

03:35And I think that basically concludes the deal.

03:38I mean, those are the main factors.

03:40I don't think there are too many other factors other than we're going to get along great.

03:44And we have a great relationship now with NATO, which is largely the same.

03:49I mean, not exactly, but pretty close, right?

03:53Largely.

03:54And with NATO, as you know, they're going up to 5% from 2%.

03:58And the relationship is very strong with NATO.

04:02So I just want to congratulate you.

04:04I think it's great that we made a deal today instead of playing games and maybe not making a deal at all.

04:13I think it's, I'm going to let you say, but I think it's the biggest deal ever made.

04:17Thank you very much.

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