U.S.-EU Trade Deal: High Stakes Negotiations Set in Scotland

European Commission President Ursula von der Leyen and U.S. President Donald Trump are set for a critical trade meeting on Sunday, aimed at establishing a landmark deal that could place a 15% baseline tariff on most European Union goods. This meeting, scheduled for Trump's Turnberry golf course in Scotland, seeks to resolve long-standing trade uncertainties impacting EU companies.

The United States and European Union officials have been in intense discussions to finalize tariffs on pivotal sectors, including cars, steel, and aluminium. Key figures like U.S. Trade Representative Jamieson Greer and EU Trade Commissioner Maros Sefcovic are expected to play significant roles in the negotiation process.

Amidst rising tariffs, some sectors, including the EU's aerospace industry, may secure exemptions. With a possible 50% tariff on steel and aluminium imports looming, Trump emphasized minimal flexibility, applying similar terms to the recent U.S.-Japan agreement. The outcome of this meeting could significantly reshape U.S.-EU trade relations.

(With inputs from agencies.)