The United States and European Union have reached a major trade agreement that sets a blanket 15% tariff on all EU goods imported into the US, narrowly avoiding a much-feared transatlantic trade war. The deal, announced by President Donald Trump and European Commission President Ursula von der Leyen, comes just before a deadline that could have seen tariffs soar to 30%. While the agreement is being touted as a win for Trump and offers some relief to global markets, it leaves Europe on the defensive and facing higher costs for its exports. The EU has also committed to significant purchases of US energy and investments, but concerns remain about the long-term impact on European industries and consumers. Despite averting immediate disaster, the deal is seen as a compromise that favors US interests and signals a new era of tougher American trade policy.
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