US reaches terms for trade deal with European Union

"This is significant because it means that both sides have averted what would have been a self-destructive transatlantic trade war." CNN senior reporter Matt Egan breaks down the terms of the newly announced framework for a trade deal between the United States and the European Union.

President Trump and von der Leyen met in Scotland and announced the deal, which includes a 15% tariff on US imports of EU goods. The announcement was in line with investors’ expectations and perceived to be better for markets than Trump’s previous threat of a 30% tariff. #CNN #News