$DOGE Donald Trump and the European Union recently reached a trade agreement. This agreement does not completely remove tariffs on European products, but it has reduced the threatened tariff rates.

Here are the details:

* 15% tariff: According to the new agreement, a 15% tariff has been imposed on most European products, including cars, that will enter the United States. This also includes computer chips and pharmaceuticals.

* Lower than threatened rates: This 15% rate is significantly lower than the threatened 30% tariff rate that Trump had previously proposed. He had also suggested tariffs of 20% and even 50% before.

* Zero tariffs on "strategic" products: The agreement also includes provisions for zero tariffs on certain "strategic" products. This includes aircraft and aircraft parts, some chemicals, semiconductor equipment.