President Donald Trump and European Commission President Ursula von der Leyen have announced a major trade deal imposing a 15% tariff on most European Union goods exported to the United States. The agreement, reached just before a threatened 30% tariff deadline, averts an immediate transatlantic trade war but is widely seen as lopsided in favor of the US. Key European industries like autos and aviation secured some exemptions, but sectors such as pharmaceuticals face steep new costs. European leaders have expressed mixed reactions, with some calling the deal a 'submission' and warning of higher prices and slower growth. Investors welcomed the certainty, but the deal has sparked debate over Europe's economic sovereignty and future trade strategy.
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