Commerce Secretary Howard Lutnick discusses the significance of the U.S. and EU agreeing to a trade deal on 'Special Report.'

Iowa farmers are welcoming a new trade deal with the European Union, a major partner for the state’s corn and soybean exports. The agreement, which adds a 15% tariff on EU goods and avoids any new tariffs on U.

President Donald Trump announced a trade deal with the European Union on Sunday after EU Commission President Ursula von der Leyen said it took "heavy lifting."

German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.

Pact removes a major risk for markets and the global economy, given the transatlantic partners did $2 trillion worth of cross-border commerce in 2024.

The United States and European Union clinched a trade agreement on Sunday that will see EU exports taxed at 15 percent, in a bid to resolve a transatlantic tariff stand-off that threatened to explode into a full-blown trade war.

The U.S. dollar, off to a weak first half of 2025, was strengthening to begin week against a basket of global currencies, gaining ground after this weekend’s U.S.-EU trade deal.