President Donald Trump on Sunday announced that the United States and the European Union had reached a landmark trade agreement following days of tense negotiations in Scotland, narrowly avoiding the imposition of new tariffs.

Speaking to reporters at his Turnberry golf course, where the talks took place, Trump described the discussions as “very interesting negotiations” and hailed the agreement as mutually beneficial. “I think it’s going to be great for both parties,” he said, repeatedly calling it “the biggest of all the deals.”

European Commission President Ursula von der Leyen confirmed the agreement, describing it as a 15% tariff framework applied across the board. “It was a good deal, a huge deal,” von der Leyen said, acknowledging the tough nature of the talks.

“We reached a point where both sides recognized the need to rebalance trade while protecting jobs on both sides of the Atlantic.”

Trump, who has long criticized the U.S.-EU trade relationship, said the agreement marks a major step toward fairer terms, particularly addressing the EU’s trade surplus with the United States.

“We’ve had a hard time with trade with Europe. This is about fairness,” he stated. The U.S. trade deficit with the EU stood at approximately $235 billion last year.

Under the deal, Trump said all 27 EU member states would open their markets to U.S. goods at a 0% tariff rate.

In addition, the European bloc has committed to investing $600 billion into the U.S. economy and purchasing $750 billion worth of American energy exports, though details on timelines and specific sectors remain undisclosed.

The negotiations were led on the EU side by Ursula von der Leyen’s team, including chief trade negotiator Maroš Šefčovič, Cabinet head Björn Seibert, trade director-general Sabine Weyand, and Tomas Baert, head of trade and agriculture at the EU’s U.S. delegation.

The deal was struck just days ahead of a White House deadline that would have triggered a 30% tariff on EU imports.

Trump had threatened to impose the tariffs if a deal wasn’t reached, citing years of what he called “very one-sided” trade arrangements.

The agreement comes during Trump’s five-day visit to Scotland, where he has combined official meetings with rounds of golf, including sessions with sons Eric and Donald Jr. at his Turnberry resort.

The full terms of the deal are expected to be released in the coming days, pending formal ratification by both sides.