President Donald Trump on Tuesday will conclude his trip to Scotland, where the United States and the European Union announced a sweeping trade deal that imposes 15% tariffs on most European goods. Trump had initially threatened tariffs of 30% against the EU in April.

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%.

President says blanket import levy of 15%-20% likely in the offing for countries without individual trade agreements

BRUSSELS - The tariff-and-spending accord announced Sunday by the United States and the European Union stands to avert a damaging trade war between two of the world’s largest economies, but it is lopsided in favor of President Donald Trump’s protectionist policies,

As President Donald Trump prepares to announce new tariff increases, the costs of his policies are starting to come into focus for a domestic manufacturing sector that depends on global supply chains,

European officials gave up on trying to avoid tariffs altogether and instead looked for the best agreement they could get.

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.