President Donald Trump has declared a 15% tariff trade deal with the European Union (EU), putting an end to several months of trade uncertainty with the U.S.’s biggest trade partner.
What Happened: The tariff rate is a significant drop from the 30% Trump threatened on July 12 and the 20% he proposed on April 2. Trump stated that the EU will not impose a tariff on U.S. imports, describing the deal as “satisfactory to both sides.”
