EU's von der Leyen: 15% the 'best we could get'

Asked if she considered 15% a good deal for European carmakers, von der Leyen told reporters: "15% is not to be underestimated, but it is the best we could get."

European Commission president Ursula von der Leyen defended the trade deal clinched with United States on Sunday as "the best we could get."

A 15% baseline tariff will now apply to all EU exports to the US, with the union agreeing to buy up $750bn worth of US energy and to invest $600bn into the US economy in the years ahead.

The deal prevents a massive trade war between the US and the EU.

Asked if she considered 15% a good deal for European carmakers, von der Leyen told reporters: "15% is not to be underestimated, but it is the best we could get."

The EU committed to purchasing $750 billion worth US Liquefied Natural Gas (LNG) and nuclear fuel over three years. 

"We still have too much Russian LNG that is coming through the back door," she said.

The European Commission has proposed phasing out all Russian gas imports by January 2028.

"Today's deal creates certainty in uncertain times, delivers stability and predictability," von der Leyen told reporters before leaving Scotland.

Government sources, while welcoming the deal, were cautious and said they would need to see the finer details of the agreement.

One senior source said “nobody was jumping with joy” over the deal due to baseline tariffs, but that it did provide certainty to businesses.