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US-EU deal sets a 15% tariff on most goods and averts the threat of a trade war with a global shock

As with recent tariff agreements that Trump announced, some major details remain pending in this one.

President Donald Trump shakes hands with European Commission President Ursula von der Leyen as they meet at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)
President Donald Trump shakes hands with European Commission President Ursula von der Leyen as they meet at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)
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This deal prevents higher import taxes that could have impacted global economies.

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