The United States and the European Union reached a trade agreement today, averting a potential trade war. The deal, announced by President Trump and European Commission President von der Leyen, includes a 15% tariff on certain European exports to the US.
This agreement aims to resolve ongoing disputes, particularly regarding steel and aluminum. Tariffs are taxes on imported goods, increasing their cost.
The timing of the deal is considered convenient, offering a respite from escalating tensions. Experts suggest it could ease concerns about disruptions to global trade.
