Pres. Trump and European Commission Pres. von der Leyen said a preliminary U.S.-EU agreement was reached on paper Sunday, setting a 15% tariff on the majority of EU imports, with 0% on U.S. goods. EU officials said a finalized joint statement should be settled by Aug. 1 as remaining details get hashed out in the coming weeks. The 15% levy is half of what Trump threatened on July 12 and down from the 20% announced in Apr. The EU previously indicated it had $100 billion in retaliatory tariffs ready to deploy.

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