Trump, EU Seal New Trade Pact: 15% Tariff Replaces 30% Threat in Global Shake-Up!

President Donald Trump and European Commission President Ursula von der Leyen announced a “framework” trade agreement that imposes a 15% import tariff on most European Union (EU) goods. Previously, Trump had threatened a 30% tariff on EU goods. Trade between the two allies accounts for nearly a third of global trade. The deal comes after the United States made a similar trade deal with Japan. The 15% tariff is said to extend to EU automobiles, pharmaceuticals and semiconductors, while a 50% tariff remains on U.S. steel and aluminum. Trump also said that he would likely implement a blanket tariff between 15% and 20% on imports from countries that haven’t negotiated separate trade agreements.