EU and US announce deal: A breakdown of the trade agreement | Business and Economy News

The United States and the European Union have reached a wide-ranging trade agreement, ending a months-long standoff and averting a full-blown trade war just days before President Donald Trump’s deadline to impose steep tariffs.

The EU will pay 15 percent tariffs on most goods, including cars. The tariff rate is half the 30 percent Trump had threatened to implement starting on Friday. Brussels also agreed on Sunday to spend hundreds of billions of dollars on US weaponry and energy products…