EU, US Clinch Deal to Avoid Trump Tariff Hike Ahead of Deadline
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The US and European Union agreed to an understanding that will see the bloc face 15% tariffs on most of its exports, staving off a trade war that could have delivered a hammer blow to the global economy.
The announcement comes less than a week before a Friday deadline for Trump's higher tariffs to take effect. The president in May threatened to impose a 50% duty on nearly all EU goods, adding pressure that accelerated negotiations, before lowering that to 30%.
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