The U.S. and European Union agreed on trade terms that include a 15% rate on most EU products as well as hundreds of billions of dollars of investments in American industry. President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out the agreement.

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

President Trump and European Commission President Ursula von der Leyen revealed the trade framework from Scotland on Sunday.

Leaders at a summit in Beijing split over Ukraine and many trade issues. They came together with small steps on climate change and critical minerals.

The South China Morning Post, a Hong Kong-based English-language newspaper, reported on Sunday that "Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday,

The European Union and China celebrated 50 years of bilateral diplomatic relations at a high-profile summit in Beijing on Thursday. But many contentious issues dampened the festive mood.

China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump’s administration.

European leaders are meeting with top Chinese officials in Beijing to discuss trade, climate change and global conflicts.

Senior U.S. and Chinese negotiators meet in Stockholm on Monday to tackle longstanding economic disputes at the centre of the countries' trade war, aiming to extend a truce keeping sharply higher tariffs at bay.

For the third time in as many months, US and Chinese officials will meet in Europe for trade talks — and this time, Beijing is arriving at the negotiating table more emboldened than ever.