This deal shows how serious President Trump is about renegotiating America's trading relationship with the rest of the world.

The deal was reached during a meeting between Donald Trump and the president of the European Commission on Sunday.

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

The bloc will face 15 tariffs on most of its goods including cars, semiconductors and pharmaceuticals entering America.

The US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer ...