The EU, a group of countries with shared economic interests, exports about $2 trillion worth of goods to the U.S. The 27 countries had hoped for a lower tariff of 10%, similar to the deal Trump negotiated with the U.K. and well below the original threat of 30% tariffs, but most analysts expected something closer to 15%.

Automaker warns of massive hits to earnings from President Trump's tariffs, as it take steps to build more vehicles in U.S.

Trump's proposed 30% tariffs on EU imports could significantly increase olive oil costs for American consumers who rely heavily on Mediterranean suppliers.

Experts at Bankrate have warned that the cost of President Donald Trump’s tariffs could ultimately be passed on to American consumers, unless importers or businesses absorb the costs

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

TURNBERRY, Scotland, July 27 (Reuters) - European Commission President Ursula von der Leyen met U.S. President Donald Trump on Sunday to clinch a trade deal that would likely result in a 15% tariff on most EU goods, but end months of uncertainty for European Union companies.

The U.S. and E.U. agreed to a framework for a trade deal. Trump hosted the British prime minister at his Scotland golf course. Trump announced U.S. food centers in Gaza. Ghislaine Maxwell called on the Supreme Court to overturn her conviction.

US President Donald Trump and European Commission chief Ursula von der Leyen met in Turnberry, Scotland, on Sunday to discuss trade with Trump saying a trade deal between the two was "was 50-50"