The United States has struck a framework trade deal with Europe, imposing a 15% US import tariff on most EU goods and averting a spiralling row between two allies who account for almost a third of global trade. The announcement came after European Commission President Ursula von der Leyen travelled for talks with U.S. President Donald Trump at his golf course in western Scotland to push a hard-fought deal over the line. …The deal also includes $600 billion US of EU investments in the United States and significant EU purchases of US energy and military equipment. However, the baseline tariff of 15% could be seen by many in Europe as a poor outcome compared to the initial European ambition of a zero-for-zero tariff deal, although it is better than the threatened 30% rate. The deal mirrors parts of the framework agreement the United States clinched with Japan last week.
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