The United States and European Union have reached a landmark trade agreement, narrowly avoiding a potentially disastrous tariff war. The deal, announced after high-stakes negotiations and a meeting between President Trump and EU Commission President Ursula von der Leyen in Scotland, sets a 15% tariff on most EU goods—half of the 30% Trump had threatened. In exchange, the EU will purchase $750 billion in US energy and invest an additional $600 billion in the US economy. While both sides claim victory and markets have responded positively, the agreement raises costs for companies and consumers and leaves some industries, like steel, still facing steep tariffs. The deal brings temporary relief but underlying tensions and the threat of future trade disputes remain.
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