The US and EU have announced a framework for what is being called the largest trade deal in history following talks in Scotland on July 28. This agreement, while still in its preliminary stages, offers insights into the potential winners and losers across various sectors.

• President Donald Trump is seen as a key winner, having secured what he calls the largest trade deal, potentially leading to tens of billions of dollars in import taxes for the US.
• US consumers are identified as losers due to potential price hikes on EU goods, with a 15% tariff rate on imports from the EU.
• The deal is a win for markets, with stock markets in Asia and Europe rising due to the certainty offered by the 15% tariff, as noted by broker Chris Weston.
• German carmakers are set to lose, despite a reduction in tariffs on EU cars imported to the US from 27.5% to 15%, a rate still expected to cost the industry billions annually.
• The EU aviation industry and US energy sector emerge as winners, with aircraft and plane parts facing zero tariffs, and the EU pledging to purchase $750 billion in US energy.