Turnberry. Us President Donald Trump and European Commission President Ursula pon der Lion are scheduled to meet in Turnberry, Scotland on Sunday. This meeting is considered decisive from the point of view of resolving the long-standing trade-related differences between the two sides.

President Trump has indicated the possibility of imposing up to 30 percent tariffs on various goods imported from the European Union if there is no agreement by August 1. Similarly, the European Union is also developing alternative strategies to protect the common interests of its member states.

The European side is determined to make trade relations balanced, transparent and mutually respectful. Accordingly, the European Commission is constantly negotiating to preserve trade worth $200 billion annually between the two sides.

The meeting is scheduled for 4:30 p.m. local time at Turnberry, president Trump’s private golf and resort site. In a recent statement, President Trump said, “We can have very positive results through this agreement. However, there are still differences between the two sides on some issues.

According to the proposed agreement, an average tax rate of 15 percent can be set on goods exported to the US from the European Union, which will be exempted from some essential items.

The European Union has also proposed to increase imports of natural gas from the United States, as well as some long-term investment commitments.

If negotiations fail, the EU is preparing to impose competitive tariffs on U.S. goods. However, the European side has made it clear that such a move will be the last option – the priority will always be focused on dialogue and cooperation.

President Trump has been pushing for agreements with various countries as part of a campaign to redefine the trade sector. However, a successful agreement with Europe could be a positive message for international cooperation and balance of trade, amidst some challenging contexts within the United States.