As part of the deal with the EU, Trump said, the union would agree to $750 billion in energy purchases and greater investment in American military equipment. Trump told American journalists after talks with European Commission President Ursula von der Leyen, according to Brussels-based Politico.

The tariff rate on imports from the EU should be 15 percent, according to Trump, and the same rate would apply to cars. However, the agreement does not apply to medicines.

The talks took place at Trump's golf course in Turnberry, western Scotland. The European Union was also represented by European Commissioner for Trade Maroš Šefčovič.

Trump reiterated his demands for more"fairness" and better market access for American products ahead of the talks."I think both sides want to see fairness," Trump said before the meeting at the Turnberry golf resort in Scotland. He then warned that the US-EU trade deal had been"a very, very one-sided deal and it shouldn't be that way." He added that if the two sides were able to reach an agreement, it would end the current tariff dispute between the two economic powers.

However, Trump immediately said in response to questions from reporters that the EU could not expect a lower tariff rate on its goods exported to the US than 15 percent.

In July, the US president threatened the EU with 30% tariffs on all European imports starting August 1. On Sunday, he stressed that the US was not willing to extend that deadline. According to Reuters, US Commerce Secretary Howard Lutnick also made similar comments on Sunday.

Trump reiterated in his speech that fairness is the main"stumbling block," but did not elaborate on what he meant by that."Europe is very closed. We don't sell cars to Europe. We don't sell agricultural products, essentially, on a large scale," Trump said in connection with the US side's demand for better access to the EU's single market.

The US president repeated his previous statements that he hopes to make a deal, with the chances being 50/50.

Von der Leyen said before the talks that the European Commission negotiators had “done their share of the hard work,” adding that “now it’s up to us.” “You are known as a tough negotiator and a deal-maker,” the EC chief said during a joint statement with Trump. “And if we are successful, I think it would be the biggest deal any of us have ever made,” she said.