France and Germany have warned about the economic fallout from the 15 percent tariffs European goods face in the U.S.

US President Donald Trump may think the trade agreement he struck with the European Union on Sunday is the “biggest deal ever” – but some within the 27-nation bloc are calling it a capitulation.

But the worst-case scenarios were so bad that Europe’s trade negotiators gave up on returning to anything close to those halcyon days. Over the past few months Mr Trump, convinced that the EU was ripping off his countrymen,