The United States and European Union have reached a major trade agreement that imposes a 15% baseline tariff on most EU goods entering the US, averting a potentially devastating trade war. While the deal brings some stability and avoids harsher tariffs, it has sparked criticism in Europe for being lopsided and for forcing the EU into costly energy and military purchases from the US. Key sectors like autos, pharmaceuticals, and steel will be hit, raising concerns about higher consumer prices and disrupted supply chains. European leaders are divided, with some calling the deal a 'submission' and warning it undermines EU leverage, while US officials tout it as a victory. The agreement has boosted market confidence in the short term, but leaves lingering questions about long-term trade relations and economic impact.
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