The 27-nation bloc averts a 30% tariff that would have taken effect Aug. 1.
President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week.
Prior to the agreement, the European Union faced the prospect of a 30% tariff rate set to take effect Aug. 1. Instead, products from one of the largest U.S. trade partners will be slapped with a 15% tariff.
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Source: https://abcnews.go.com/amp/Business/trumps-trade-agreement-european-union/story?id=124131754
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