The Europe trade deal will see the U.S. impose a 15% import tariff on most EU goods − half the threatened rate but much more than Europeans hoped for.

The United States and the European Union agreed to a 15 percent base tariff after weeks of negotiations, which were among the Trump administration’s most difficult discussions.

President Donald Trump struck a trade deal with the European Union, or EU, which fundamentally rebalances the economic relationship between the world’s two largest economies.