#US-EUTradeAgreement US President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal that imposes 15% tariffs on most European goods, warding off Trump's threat of a 30% rate if no deal had been reached by 1 August.

The tariffs, or import taxes, paid when Americans buy European products could raise prices for US consumers and dent profits for European companies and their partners who bring goods into the country.The headline figure is a 15% tariff rate on about 70% of European goods brought into the US, including cars, computer chips and pharmaceuticals. It's lower than the 20% that Trump initially proposed, and lower than his threats of 50% and then 30%.