President Donald Trump and EU Commission President Ursula von der Leyen announced a trade deal framework setting a 15% baseline tariff on most EU goods, down from Trump's planned 20% tariff.

After months of negotiations, and the two sides exchanging threats of further tariffs and potential countermeasures, the European Union and the United States have finalized terms of a deal that offers the bloc a reduced tariff rate in return for billions of dollars' worth of purchases and investments.

The Europe trade deal will see the U.S. impose a 15% import tariff on most EU goods − half the threatened rate but much more than Europeans hoped for.