US President Donald Trump and European Commission President Ursula von der Leyen have agreed a deal to end a transatlantic tariff dispute, averting the risk of a full-scale trade war.
Mr Trump and Ms Von der Leyen held private talks at the US leader's Trump Turnberry golf course in South Ayrshire in Scotland on Sunday, and later announced what the US President called an “across-the-board” agreement.
The breakthrough comes just days before an August 1 deadline for the EU to strike a deal with Washington or face a sweeping 30 per cent US tariff on the bloc's goods.
“We have reached a deal. It's a good deal for everybody,” Mr Trump told reporters.
Mr Trump said the deal involved a baseline levy of 15 per cent on EU exports to the US, the same level secured by Japan, including for the bloc's crucial auto sector, which is currently being taxed at 25 per cent.
“We are agreeing that the tariff straight across, for cars and everything else, will be a straight across tariff of 15 per cent,” he added.
Mr Trump also said the bloc had agreed to purchase "$750 billion worth of energy” from the US, as well as $600 billion more in additional investments in the country.
Negotiating on behalf of the EU's 27 countries, Ms Von der Leyen's European Commission had been pushing hard to salvage a trading relationship worth an annual $1.9 trillion in goods and services.
“It's a good deal,” the EU chief told reporters, sitting alongside Mr Trump following their hour-long talks.
“It will bring stability. It will bring predictability. That's very important for our businesses on both sides of the Atlantic,” she said.
The EU has been hit by multiple waves of tariffs since Mr Trump reclaimed the White House.
It is currently subject to a 25 per cent levy on cars, 50 per cent on steel and aluminium, and an across-the-board tariff of 10 per cent, which Washington threatens to hike to 30 per cent in a no-deal scenario.
Brussels has been focused on getting a deal to avoid sweeping tariffs that would further harm its sluggish economy with retaliation held out as a last resort.
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Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
When is VAR used?
• Goals
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Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza
Hobby: Running and watching Welsh rugby
Travel destination: Cyprus in the summer
Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
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The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
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Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
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Stage 5 results
1 Tadej Pogacar (SLO) UAE Team Emirates 3:48:53
2 Alexey Lutsenko (KAZ) Astana Pro Team -
3 Adam Yates (GBR) Mitchelton-Scott -
4 David Gaudu (FRA) Groupama-FDJ 0:00:04
5 Ilnur Zakarin (RUS) CCC Team 0:00:07
General Classification:
1 Adam Yates (GBR) Mitchelton-Scott 20:35:04
2 Tadej Pogacar (SlO) UAE Team Emirates 0:01:01
3 Alexey Lutsenko (KAZ) Astana Pro Team 0:01:33
4 David Gaudu (FRA) Groupama-FDJ 0:01:48
5 Rafał Majka (POL) Bora-Hansgrohe 0:02:11
KEY DEVELOPMENTS IN MARITIME DISPUTE
2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.
2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus
2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.
2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.
2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.
