Turnberry, July 27 -- US President Donald Trump on Sunday (local time) announced that Washington and the European Union have reached an agreement on the trade deal, finalising at a uniform 15 per cent tariff on all goods across the board and purchases of massive energy and military equipment and unprecedented investment commitments by the EU to its Atlantic partner.

Describing the agreement as the "biggest deal ever," Trump, during a discussion with European Commission President Ursula von der Leyen, as broadcasted by Fox News, hailed the agreement as a "giant deal with lots of countries," noting von der Leyen's representation of the 27-nation European Union.

He stated that the EU has agreed to purchase USD 750 billion worth of energy f...