US president and his EU counterpart strike sweeping 15 percent tariff deal to stabilise transatlantic trade.
The United States and European Union have reached a sweeping trade agreement, setting a 15 percent tariff on most goods, averting a major transatlantic trade war that could have rattled global markets.
The announcement came after a private meeting on Sunday between US President Donald Trump and European Commission President Ursula von der Leyen at Trump’s Turnberry golf resort in Scotland.
The deal comes just days before Washington was due to impose 30 percent tariffs on EU imports.
“It was a very interesting negotiation. I think it’s going to be great for both parties,” Trump told reporters. He added that it was “a good deal for everybody… a giant deal with lots of countries”.
