Washington, SANA- The United States and European Union have reached a joint trade agreement, setting mutual tariffs at a uniform 15 %.

The announcement came following talks between European Commission President Ursula von der Leyen and U.S. President Donald Trump in western Scotland.

Reuters quoted Trump as saying: “We agreed that tariffs on cars and everything else will be set at a rate of 15%, yet, this basic rate will not apply to steel and aluminum, which will still be 50%.”

For her part, von der Leyen said, “The 15 % tariffs will be applied to all sectors,” adding, “We have a trade agreement between the two largest economies in the world, . It’s a massive and highly significant agreement that will bring stability.”

The agreement also includes the EU investing $600 billion in the United States and purchasing significant amounts of American energy and military equipment.

Etemad/Manar