President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal that imposes 15% tariffs on most European goods, warding off Trump's threat of a 30% rate if no deal had been reached by Aug.

The deal, which includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment, will bring welcome clarity for EU companies though many in Europe will see it as a poor outcome.

President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.

EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher imports on both sides that might have sent shockwaves through economies around the globe.

U.S. President Donald Trump and European Commission President Ursula von der Leyen met in the U.K. on July 27 and agreed to a trade deal between the two major economies.

European Commission President Ursula von der Leyen and US President Donald Trump have struck a deal to settle a trade dispute over tariff hikes, EU sources said on Sunday. The agreement brings an end to months-long negotiations between Brussels and Washington.

The European Union and the US appear to differ on some fundamental details in their new trade agreement, underscoring the difficulty they’ll have in turning this deal into a reality.

Investors will not be able to look away over the coming week as every single day could produce significant market-moving news.

President Trump met with top European officials demanding fairer trade with the 27-member European Union at his golf course on the Scottish coast.

Investors cautiously embraced news of a trade deal on Sunday between the U.S. and European Union that is expected to bring clarity for companies and some certainty to markets ahead of U.S. President Donald Trump's Friday tariffs deadline.

A deal with the United States felt like an impossibility in late May. Frustrated by a lack of progress in negotiations with the 27-member European Union, Trump on May 24 told the world he was done talking to some of America’s strongest allies .

President Trump on Wednesday said that reciprocal tariffs on US trading partners would range from 15% to 50%, with countries the administration views as difficult receiving the higher rate. "We'll have a straight,