The United States and European Union have struck a major trade agreement, narrowly avoiding a damaging trade war that threatened to escalate with steep tariffs. Under the deal, the EU will face a 15% tariff on most goods exported to the US, down from a threatened 30%, while committing to purchase hundreds of billions of dollars in US energy and military equipment. European leaders have expressed relief at averting chaos but criticized the agreement as unbalanced and a political win for President Trump. The deal brings temporary stability and predictability for businesses but is expected to raise costs for companies and consumers on both sides. Despite the breakthrough, questions remain about the long-term impact and whether the EU conceded too much under pressure.
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