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US and EU Reach 15% Tariff Agreement to Avoid Trade Dispute Escalation

US and EU Reach 15% Tariff Agreement to Avoid Trade Dispute Escalation
On July 27, the United States and the European Union reached a framework trade agreement, announcing a 15% import tariff on most EU goods, including cars—only half of the previously threatened tax rate. This agreement successfully avoids a broader trade conflict between the two largest economies, which together account for about one-third of global trade.

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