Part of the agreement involves a commitment to buy American oil and gas. Over the course of the Russia-Ukraine war, now in its fourth year, most of the EU has slashed its dependence on unreliable energy supplies from Russia, but Hungary and Slovakia still have not.

Trading partners from the European Union to Japan to Vietnam appear to be acceding to U.S. President Donald Trump's demands to accept higher costs in the form of high tariffs.

President Donald Trump was visiting Scotland when he struck a deal with the EU president. What was the tariff on EU imports before Trump took office?

After the U.S. reached a trade deal with Europe, it looks like airlines and manufacturers will avoid tariffs on aircraft orders and parts.

EDINBURGH, Scotland -- The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

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.

TACO or tariffs? An August 1 deadline looms after the European Union became the latest of the top US trading partners to reach a deal with Trump.