EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

Cheniere Energy shares were higher ahead of today's session following a trade deal between the U.S. and the European Union.

France denounced the trade agreement between the European Union and the U.S. as a "submission" on Monday though other EU states largely backed a deal they acknowledged was lopsided but which averts an economically damaging trade war with Washington.

U.S. agreement, secured by President Donald Trump in Scotland, imposes a 15% tariff on most European goods but does not outline a tariff for the wine and spirits industry.

A Transformative Deal with Tech at the Forefront The U.S. and EU finalized a framework trade agreement, a landmark deal to stabilize transatlantic commerce. The agreement includes zero-for-zero tariffs on semiconductor equipment,

Asian equities were mostly higher overnight as Vietnam and Indonesia outperformed while Japan and India underperformed. Hong Kong and Mainland China were both higher overnight on high volumes as health care stocks outperformed,

European capitals are putting a brave face on the trade deal they struck with President Donald Trump, which will see the European Union accept a 15% tariff on most of its exports to the US while reducing levies on some American products to zero.