Trump, EU announce trade deal
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The U.S. and the European Union announced a new trade agreement framework over the weekend, setting a 15% tariff on most goods imported from the EU.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
Many pharmaceutical products made in Europe will face a 15 percent tariff, pinching manufacturers and potentially leading to higher drug prices.
Trump had most recently threatened tariffs of 30% on imports from the European Union. But on Sunday, he met with the president of the European Commission, and they agreed to a lower level.