The United States and the European Union avoided the worst-case scenario: a damaging, all-out trade war between allies that threatened to raise prices on a large number of goods and slow two of the world’s largest economies.

The European Union’s trade agreement with the Trump administration is getting mixed reviews. EU officials say they warded off a total economic disaster. But French officials in particular say the EU punched below its weight while economists say the deal is dangerously vague.