The United States and European Union have reached a major trade agreement that imposes a 15% tariff on most EU goods entering the US, averting a threatened 30% tariff and a potential transatlantic trade war. While President Trump hailed the deal as a historic win for American businesses, European leaders, especially in France and Germany, criticized it as a capitulation and a 'dark day' for Europe. The agreement also includes EU commitments to purchase large amounts of US energy and military equipment, though Brussels admits it cannot guarantee all promised investments. The deal has been welcomed by financial markets for reducing uncertainty, but many warn it could raise prices for consumers and slow economic growth. Critics argue the EU accepted a lopsided arrangement to avoid worse economic fallout, and some sectors, like pharmaceuticals and steel, still face unresolved tariff issues.
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