Part of the agreement involves a commitment to buy American oil and gas. Over the course of the Russia-Ukraine war, now in its fourth year, most of the EU has slashed its dependence on unreliable energy supplies from Russia, but Hungary and Slovakia still have not.

The agreement will reduce the upcoming tariffs on imported European cars to 15 percent and will see the EU invest billions in the United States.

This month, Trump threatened 200% tariffs on imported medicines. Last weekend, he agreed to a much lower 15% tariff on imported pharmaceuticals from the European Union.

Q: Is it true that if President Donald Trump hadn’t defunded the National Weather Service, the death toll in the Texas flooding would have been far lower or nonexistent?

Trump’s trade deal with the E.U. may lead to higher prices for brand-name drugs in the U.S., including the blockbuster medications Ozempic and Wegovy, experts say.

The sharp increase in U.S. trade tariffs on the European Union will not trigger immediate sovereign rating cuts, but could compound existing pressures, Fitch and other agencies said on Tuesday, while Moody's warned of the effect on exporting firms.

The U.S. and the European Union announced a new trade agreement framework over the weekend, setting a 15% tariff on most goods imported from the EU.

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