💨 Abstract

Donald Trump announced a commercial agreement with the European Union, reducing tariffs to 15%, ending months of uncertainty in trade with the U.S.' biggest commercial partner. Initially, Trump had threatened 30% and later 20% tariffs. The EU also agreed not to impose tariffs on U.S. imports. Both leaders described the deal as beneficial and stabilizing for transatlantic businesses. Previous threats had prompted concerns over supply chain disruptions.

Courtesy: WTOP Staff