Trump and Von der Leyen Meeting on Trade

European Commission President Ursula von der Leyen is set to meet with President Donald Trump on Sunday in a bid to finalize a trade deal for the European Union prior to a forthcoming 30% tariff on EU imports.

On Friday, von der Leyen announced via social media that Trump “agreed to meet in Scotland on Sunday to discuss transatlantic trade relations and how to keep them robust.”

Before their meeting, reports indicated that U.S. and EU negotiating teams were in “final talks” regarding tariffs on major industries such as automobiles, steel, aluminum, and pharmaceuticals.

“The question remains whether they can present President Trump with an attractive enough deal to justify stepping back from the 30% tariffs he proposed,” noted Commerce Secretary Howard Lutnick, who traveled to Scotland for the discussions.

A trade deal is particularly important as the U.S. and EU are each other’s most significant trading partners, collectively representing about a third of global commerce.

“We’re cautiously optimistic that an agreement can be reached,” remarked an anonymous official from Trump’s administration. “But, as always, it’s not finalized until it’s finalized.”

Sources informed CNBC that the proposed deal might involve a 15% tariff on EU imports into the United States.

The talks are happening just ahead of Trump’s planned 30% tariffs set to begin next month.

Trump himself mentioned there’s a “50/50 chance” the two leaders will leave the meeting with a deal in hand.

This meeting succeeds Trump’s recent success in establishing a 15% baseline tariff with Japan earlier this week.