The United States and European Union have reached a preliminary trade agreement that imposes a 15% tariff on most EU goods entering the US, narrowly avoiding a threatened 30% tariff hike that risked sparking a major transatlantic trade war. The deal, announced after high-stakes talks between President Donald Trump and European Commission President Ursula von der Leyen in Scotland, also includes significant EU commitments to purchase US energy and military equipment. Both sides described the agreement as a framework, with some details still to be finalized, but it marks a de-escalation of months of tense negotiations and tariff threats. The EU is preparing potential retaliatory measures in case the deal falls through, but leaders expressed cautious optimism. Pharmaceuticals are reportedly excluded from the agreement, and the deal is seen as setting a new standard for US trade policy.
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