A provisional deal between the United States and European Union to exempt aircraft from tariffs avoids a potential threat to jet production and deliveries in both regions and caps months of uncharacteristic unity among plane-making rivals.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

German auto giant Volkswagen is feeling the effects of President Trump's tariff policy. An EU-US trade deal can't come soon enough for the Wolfsburg-based automaker.

The S&P 500 and the Nasdaq opened at record highs, while the Dow was on the cusp of that as optimism from a U.S.-EU trade pact set the stage for a week packed with megacap earnings, a Fed meeting, and an approaching U.

Asian shares are higher, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals

US President Donald Trump and European Commission Ursula von der Leyen announced on Sunday that they have agreed a US tariff on all EU goods of 15%.

France denounced the trade agreement between the European Union and the U.S. as a "submission" on Monday though other EU states largely backed a deal they acknowledged was lopsided but which averts an economically damaging trade war with Washington.