Trump announces trade deal with European Union

President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal between the U.S. and European Union on Sunday.

The announcement came moments after the two had addressed the media, agreeing that the likelihood of an agreement was about 50-50. Von der Leyen said the negotiations had taken some “heavy lifting,” but the two leaders agreed they were happy with the result.

“We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15%,” Trump said.

“So we have a tariff of 15%. We have the opening up of all of the European countries, which I think I could say were essentially closed. I mean, you weren’t exactly taking our orders. You weren’t exactly taking our agriculture,” he added, addressing von der Leyen.

This is a developing story. Check back soon for updates.