US President Donald Trump and EU Chief Ursula von der Leyen have announced they had reached an agreement to end a transatlantic tariffs dispute and prevent a trade war.
The deal involves a uniform 15 percent tariff on EU exports to the US, including autos, replacing the current 25 percent tariff on automobiles.
Additionally, the EU agreed to purchase $750 billion worth of US energy and invest $600 billion more in the US. The agreement aims to bring stability and predictability to the $1.9 trillion transatlantic trade relationship, with both leaders expressing optimism about its benefits for businesses on both sides.
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