The United States and European Union have reached a major trade agreement, narrowly avoiding a full-blown trade war by setting a 15% tariff on most European goods exported to the US. The deal, announced by President Trump and EU Commission President Ursula von der Leyen, was struck just days before a threatened 30% tariff deadline. While the agreement brings relief to global markets and provides certainty for businesses, many European leaders and industry groups have criticized the terms as heavily favoring the US, with France calling it a 'submission.' The EU also agreed to buy large amounts of US energy and military equipment, but admitted it cannot guarantee all promised investments. Despite averting immediate chaos, the deal has sparked debate over whether Europe sacrificed too much to avoid harsher penalties.
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