President Donald Trump and EU Commission President Ursula von der Leyen announced a trade deal framework setting a 15% baseline tariff on most EU goods, down from Trump's planned 20% tariff.

President Donald Trump announced Sunday that the United States and the European Union reached a framework for a trade deal, ending a monthslong saga with America’s largest trading partner.

After months of negotiations, and the two sides exchanging threats of further tariffs and potential countermeasures, the European Union and the United States have finalized terms of a deal that offers the bloc a reduced tariff rate in return for billions of dollars' worth of purchases and investments.