U.S. And E.U. Clinch Trade Deal To Avert Prohibitive U.S. Tariffs

UNITED STATES – The U.S. and Europe have struck a new trade deal, averting a major economic showdown.

President Donald Trump made the announcement Sunday – confirming a 15% tariff on European goods entering the U.S. In return, the E.U. will boost purchases of American energy and military equipment.

While some in Europe say the deal falls short of a zero-tariff goal, it’s seen as better than the 30% threat that was on the table.

Talks were sealed after E.U. Commission President Ursula Von Der Leyen met with Trump in Scotland.