Trump admin updates: EU will buy $750 billion worth of U.S. energy under deal

The deal would impose a 15% tariff on most goods.

ByKevin Shalvey, Megan Forrester, Ivan Pereira, and Alexandra Hutzler
Last Updated: July 27, 2025, 4:52 PM EDT

President Donald Trump and European Commission President Ursula von der Leyen announced on Sunday the U.S. and the EU had reached a deal that would impose a 15% tariff on most goods.

Under the deal, the EU will purchase $750 billion worth of energy from the U.S. and invest $600 billion more than it's already is.

Meanwhile, Trump's health secretary, Robert F. Kennedy Jr., plans to oust all 16 members of a task force that recommends which preventive health services, such as cancer screenings, must be covered by insurance.

Latest headlines:

Here's how the news is developing.
Jul 21, 2025, 1:05 PM EDT

Bessent calls for a review of 'entire Federal Reserve institution'

The Trump administration appears to be calling for a more expanded review on the Federal Reserve.

Treasury Secretary Scott Bessent is now calling for a review of the entire Federal Reserve institution, not just recent building renovations.

"What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” he said during an appearance on Squawk Box on Monday.

This comes as President Donald Trump has sharply criticized the building renovations of the Fed building, using the project to threaten Fed Chair Jerome Powell’s role as he continues to publicly fume over Powell not cutting interest rates.

Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol in Washington, June 27, 2025.
Elizabeth Frantz/Reuters, Files

"I think that we should think, has the organization succeeded in its mission. You know, if this were the FAA and we were having this many mistakes, we would go back and look at why. Why has this happened?" Bessent questioned.

-ABC News' Lalee Ibssa

Jul 21, 2025, 6:58 AM EDT

Trump, Vance to have lunch Monday

President Donald Trump is scheduled on Monday to have lunch with Vice President JD Vance, according to the White House.

A general view of the White House in Washington, D.C., U.S., July 20, 2025.
Alexander Drago/Reuters

The president does not have other events on his public schedule.

-ABC News’ Lalee Ibssa

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