The White House on Thursday hailed a “historic” new trade agreement between the United States and the European Union, touting it as a major victory for American manufacturing and energy dominance under President Donald Trump’s second term.
Addressing the press, White House Press Secretary Karoline Leavitt announced that the European Union has committed to purchasing USD 750 billion in American energy by the end of 2028 as part of the agreement. She said the deal would deliver “unprecedented access” for U.S. businesses to EU markets and fulfill core promises of Trump’s trade agenda.
“This is a historic trade agreement that puts America first,” Leavitt declared. “It supercharges our manufacturing capacity and opens up critical foreign markets to American-made goods. Media pundits said this kind of deal was impossible—but President Trump made it happen.”
She noted that the deal will also reduce Europe’s reliance on energy from “adversarial sources” while helping narrow the U.S. trade deficit with the bloc.
In addition to the EU agreement, Leavitt provided updates on several other high-level trade talks. She confirmed that South Korea has agreed to purchase USD 100 billion in U.S. energy and invest USD 350 billion in revitalizing American industry. Notably, 90% of the profits from that investment, she said, will return to the U.S. government to assist with debt repayment and other priorities.
Broadening the scope, Leavitt said the administration has been actively negotiating with all 18 major U.S. trading partners, securing deals with two-thirds of them. She added that over 200 countries have contacted the administration’s trade and tariff team and those yet to hear back can expect an official letter or executive order “by midnight tonight.”
This flurry of trade activity comes as the Trump administration’s new tariff hikes officially take effect on August 1. Countries including the UK, Japan, Indonesia, and the EU managed to negotiate reduced rates ahead of the deadline, while others face steep new levies on all exports to the U.S.
President Trump is expected to sign executive orders formalizing the new tariff regime later today. The administration has defended the hikes as essential to correcting trade imbalances and restoring American industrial strength—key pillars of Trump’s “Make America Great Again” agenda.
While global economic observers warn the tariffs may have short-term costs for both sides, the White House insists they are necessary to protect American jobs and industry in a fiercely competitive global landscape.
