Trump and EU reach trade deal
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As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.
The agreement will reduce the upcoming tariffs on imported European cars to 15 percent and will see the EU invest billions in the United States.
U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal. It raises tariffs on most European goods to 15%.
Donald Trump and European Union leaders meeting in Scotland have agreed a trade deal, ending a standoff between two of the world's biggest economic partners. Ahead of Trump’s delayed tariff deadline of Aug.
German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.
Pact removes a major risk for markets and the global economy, given the transatlantic partners did $2 trillion worth of cross-border commerce in 2024.