European Union resigned to 15 percent US tariff

The United States and European Union clinched a trade agreement that will see EU exports taxed at 15 percent, in a bid to resolve a transatlantic tariff stand-off that threatened to explode into a trade war. US President Donald Trump emerged from a high-stakes meeting with European Commission President Ursula von der Leyen at his golf resort in Scotland, describing the deal as the “biggest-ever”. The deal, which the leaders struck in around an hour, came as the clock ticked down on an August 1 deadline to avoid an across-the-board US levy of 30 percent on European goods.