U.S. And EU Reach Trade Deal Involving 15% Tarrif

It still remains significantly lower than the 50% tariff the president threatened in may when trade talks were unsuccessful.

The United States and European Union have reached a trade deal.

The trade framework imposes a 15% tariff on most European goods entering the U.S., which is higher than the 10% tariff President Trump placed in April and significantly higher than the average of around 1.2% from before his second term in office.

It still remains significantly lower than the 50% tariff the president threatened in may when trade talks were unsuccessful.

The announcement comes after Trump and the European Commission conducted a private sit-down ahead of the White House deadline.