In Scotland, von der Leyen is trying to get 15% from Donald Trump.

Anticipation is growing for the Scottish meeting between European Commission President Ursula von der Leyen and Donald Trump. The two could reach an agreement on tariffs to avert the 30% tariffs from taking effect on August 1st. The European goal is to reach an agreement on 15% tariffs, and to achieve this, Brussels is reportedly prepared to put the possibility of a digital tax on hold.

The red line on the law imposing stricter rules on content, transparency, and competition for web giants, which are particularly unwelcome to the Trump administration, would remain intact. The Commission is requesting exemptions for certain key sectors such as pharmaceuticals, machinery, aircraft, and alcohol. It also calls for a reduction in the tariffs on auto exports, currently at 25%. Tariffs on aluminum and steel are expected to remain at 50%, though likely with reduced quotas. In exchange, Europe will offer increased purchases of liquefied gas and investments in infrastructure.

Closing a deal is not a given: Trump has spoken of a 50% chance, and Europe has already prepared a list of initial countermeasures worth €93 billion to be implemented in the event of a failure to reach an agreement, which could be triggered as early as August 7th. Meanwhile, the so-called bazooka, the possibility of targeting US financial and digital services and public procurement in Europe, remains on the shelf for now.