The United States and the European Union have reached a deal on tariffs and trade, agreeing on 15 percent import duty on vast majority of EU goods.
This is just half of the rate that Trump had threatened to implement from August 1.
This rate applies across most sectors, including cars, semiconductors and pharmaceuticals. "This 15% is a clear ceiling. No stacking. All-inclusive. So it gives much-needed clarity for our citizens and businesses. This is absolutely crucial," European Commission President Ursula von der Leyen said after her meeting with President Donald Trump at his Turnberry golf resort in Scotland on Sunday.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.