US and EU agree on 15% tariffs in new trade deal

The United States and the European Union (EU) have finalised a new trade agreement that introduces a 15% tariff on goods from all 27 EU member states, US President Donald Trump announced on Sunday. The announcement came after a meeting with European Commission President Ursula von der Leyen.

Trump, who had earlier threatened to impose 30% tariffs on European products starting 1 August, confirmed that the agreement also includes $600 billion (₹51.9 lakh crore) in planned EU investments in the United States.

Additionally, the European bloc committed to purchasing $750 billion (₹64.8 lakh crore) worth of American energy exports.

($$1 = ₹86.51)