The Latest Breaking News from European Commission

The prices of European products are likely to rise in the United States. Conversely, the trade agreement should not cause inflation in Europe, as the EU has not introduced counter-tariffs on American products.

President has just completed a five-day trip to his golf courses and hotels in Scotland

The European Commission has proposed a €2 trillion long-term budget which would controversially merge agricultural and cohesion funds. Commission President Ursula von der Leyen defended the move as effective, but critics have warned it could undermine rural and regional development.

The 15% rate removes Trump's threat of a 30% tariff. But it effectively raises the tariff on EU goods from 1.2% last year to 17%.