The United States and the European Union agreed to a 15 percent base tariff after weeks of negotiations, which were among the Trump administration’s most difficult discussions.

Trump said the EU will invest $600 billion in the U.S. and buy $750 billion worth of U.S. energy products.

US President Donald Trump and EU chief Ursula von der Leyen confirm the deal after "tough negotiations" in Scotland.

The deal staves off, at least for now, far higher imports on both sides that might have sent shockwaves through economies around the globe.

US president and his EU counterpart strike sweeping 15 percent tariff deal to stabilise transatlantic trade.

TURNBERRY, Scotland: The US struck a framework trade agreement with the European Union on Sunday, imposing a 15 percent import tariff on most EU goods — half the threatened rate —…

After a lot of big talk on trade, the Trump administration needed a big win. It appears to have just gotten one.

TURNBERRY, Scotland: The US struck a framework trade agreement with the European Union on Sunday, imposing a 15 percent import tariff on most EU goods — half the threatened rate —…

The United States and the European Union agreed to a 15 percent base tariff after weeks of negotiations, which were among the Trump administration’s most difficult discussions.

The U.S. and EU on Sunday announced a trade agreement, including a 15% tariff rate.

EU will pay 15% tariffs and buy hundreds of billions of dollars in energy products and military equipment from US.

Both sides hailed the agreement as the biggest ever. But it will come at a cost to the European Union, and many details have yet to be nailed down.

The deal was struck less than a week before the U.S. threatened to levy a much higher 30% tariff on European goods.

German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.

Questions, critiques and discrepancies are hanging over the framework agreement, but investors seem to view it as a win all the same.

Some European politicians are dismayed that the European Union did not drive a harder bargain, but facing the threat of a damaging trade war, officials say they had little choice.

It’s a race against time for some of America’s top trading partners who are negotiating furiously to reach agreements by Aug. 1.