TURNBERRY, Scotland — U.S. President Donald Trump said on Sunday he hoped to reach a trade agreement with the European Union but still rated the chances at 50-50.

Trump was speaking as he hosted European Commission President Ursula von der Leyen at his Turnberry golf club in Scotland. “Both sides want to see fairness,” Trump said. “Hopefully, we will resolve a few issues.”

If a deal is done , Trump later said, that would be “the end of it for a number of years.” He said any accord would not include pharmaceuticals. He ruled out the possibility that tariffs applicable to the EU would be below 15 percent.

Sitting alongside Trump in the club ballroom, von der Leyen said she was “very much looking forward to the discussions we will have now … our staff have done the heavy lifting, but it’s on us now.”

She also rated the chances of a deal at 50-50.

The talks follow a two-week standoff triggered by Trump, who in a letter to von der Leyen threatened to jack up tariffs on most EU goods to 30 percent if no deal were done by Aug. 1.

In a first sign that a breakthrough had been in the offing, von der Leyen announced on Friday she would fly to meet Trump in Scotland, where the U.S. president was on a private visit.

This story is being updated.