US President Donald Trump says he has reached a tariff agreement with the European Union.

He met European Commission President Ursula von der Leyen in Scotland on Sunday. After the talks, the two spoke to reporters.

Trump had said Washington would impose a 30 percent levy on goods from the EU starting on August 1. But he said the rate will be set at 15 percent.

Trump explained that automobiles and nearly everything else will be subject to that rate. But he said the 50 percent tariff on steel and aluminum imports will remain unchanged.

Trump said the EU is going to agree to buy 750 billion dollars' worth of energy from the US and make new investments of 600 billion dollars in the country.

Trump also said all of the EU countries will be opened up to trade with the US at a zero tariff.

He said he thinks the agreement is the biggest deal ever made.

Von der Leyen said they reached a trade deal between the two largest economies in the world, and that it will bring stability and predictability.