The world is watching the meeting in Scotland closely! European Council President von der Leyen will attend to meet with Trump and strive to reach a trade agreement.

European Commission President Ursula von der Leyen has announced that she will travel to Scotland this weekend to meet with US President Trump. Both sides are working towards reaching a trade agreement before the August 1 deadline, or else EU exports will face a 30% punitive tariff. After months of negotiations and shuttle diplomacy between Brussels and Washington, the two sides have come close to reaching an agreement in the past week - most EU goods exported to the US will be subject to a 15% tariff. According to previous reports, aviation products, some medical devices, generic drugs, certain types of alcohol, and specific manufacturing equipment urgently needed by the US are expected to receive limited exemptions. According to the proposed plan being discussed, imports of steel and aluminum products may receive quota preferences, but anything exceeding the quota would face a high tariff of 50%. "We are hoping to reach an agreement," Trump said upon arriving in Scotland on Friday, "Ursula will attend the meeting, she is a respected woman. We are looking forward to it." Trump reiterated that he believes the chances of reaching an agreement with the EU are "50-50," and pointed out that the two sides have differences on "about twenty issues," but he was not willing to disclose specific details publicly. "If it is signed successfully, this will actually be the largest trade agreement in history," Trump said. Before setting off, he had given a similar assessment during a meeting with European negotiators in Washington, but also said that the EU has "a fairly large chance" of reaching an agreement. In April of this year, Trump announced tariffs on almost all US trading partners, claiming it was aimed at revitalizing domestic manufacturing, funding the extension of major tax cuts, and stopping other countries from taking advantage of the US. He also attempted to eliminate barriers hindering the global operations of US companies. Apart from universal tariffs, the US government also imposed a 25% tariff on cars and parts, and double tariffs on steel and aluminum products. Trump even threatened to impose new taxes on pharmaceuticals and semiconductors as early as next month, and recently announced a 50% tariff on copper products. The EU has been seeking to establish a quota system and future industry tariff caps (which the US has not yet implemented), but it is uncertain whether the preliminary agreement reached at this stage will protect the EU from potential future tariffs. The agreement will also cover non-tariff barriers, cooperation on economic security affairs, and strategic procurement by the EU in fields such as energy and artificial intelligence (AI). Insiders reveal that the terms of the preliminary agreement expected to be presented in a short joint statement will need approval from member states. This statement is seen as a cornerstone for moving towards more detailed negotiations. Given the uncertainty in the negotiations, the EU has simultaneously prepared countermeasures in the event of a no-deal scenario. If Trump insists on imposing threatening tariffs on most EU exports after August 1, the EU will swiftly impose retaliatory tariffs of up to 30% on around 100 billion ($117 billion) worth of US goods, covering items such as Boeing airplanes, US-made cars, and bourbon whiskey. The countermeasures also include partial export restrictions on scrap metals. In a no-deal scenario, the EU is also prepared to initiate "retorsion tools" - a powerful trade weapon that can ultimately lead to sanctions in areas such as market access, trade in services, and restrictions on public contracts, provided it has the support of the majority of member states. Although Trump did not explicitly link trade negotiations with non-trade issues on Friday, he hinted at plans to express concerns about immigration. Upon returning to the White House, Trump implemented strict anti-immigration policies, including the mass expulsion of undocumented immigrants and reductions in legal immigration channels. "We must stop this terrible invasion that is sweeping through multiple countries in Europe," Trump said. "I believe this immigration wave is destroying Europe." Investors focusing on the deadline As the deadline for the implementation of tariffs next Friday approaches, investors are hopeful that a potential US-EU trade agreement may bring more certainty to the markets. Sameer Samana, global stocks and real asset director at Wells Fargo & Company Investment Research Institute, said that the tense US-EU trade relations have made some investors cautious. "This is one of our most important trade relationships... so if this final piece of the puzzle can fall into place, there may be more investors returning to the markets. This long-standing uncertainty will eventually dissipate." Recently, the optimism around easing trade tensions has pushed US stocks to record highs. While Trump's global tariff policy announced on April 2 had caused market panic selling, worries about an economic recession have gradually receded. Nevertheless, investors are preparing for potential market volatility that may arise from the August 1 tariff deadline. Expectations for a US-EU agreement have risen following the recent trade deal between the US and Japan. In a report on Friday, analysts at Capital Economics said, "The US-Japan deal and the imminent US-EU deal are especially important, as these two major trading partners account for a quarter of total US goods imports." Under the US-Japan deal, tariffs on Japanese auto exports will drop from 27.5% to 15%. The agency stated that it would be "significant" if EU car tariffs also dropped to 15%, as around 10% of US exports to the EU fall under this category. At the same time, investors are closely monitoring the progress of US-China trade negotiations. Officials from both countries are planning to meet in Stockholm next week to discuss extending the originally scheduled August 12 deadline for negotiations.