The European Union and the United States have struck a tentative trade deal to avert a potentially devastating tariff war between two of the world's largest economies, capping a race against time before a self-imposed deadline of 1 August.
Under the agreed terms, finalised on Sunday by European Commission President Ursula von der Leyen and US President Donald Trump during a meeting in Scotland, the majority of EU exports bound for the American market will be subject to a 15% tariff.
