Trump, EU Strike Tariff Deal Before Deadline

President Trump and the European Union reached a trade agreement avoiding a threatened 30% U.S. tariff by setting a 15% tariff on most EU goods, just before an August 1 deadline. In exchange, the EU committed to purchasing $750 billion in U.S. energy over three years and investing an additional $600 billion in the U.S., though experts question whether these targets are achievable. The Trump administration has promoted the deal as a major victory expected to boost U.S. exports, but economists warn that the tariff costs will likely be passed on to American consumers and businesses. The agreement comes amid Trump's broader tariff threats to countries like Japan, Vietnam, and Canada, increasing global trade uncertainty. Analysts predict that this protectionist trend will persist, contributing to slower global growth and business investment. While the White House claims tariffs target foreign exporters, industry and economic analysis suggest Americans will bear most of the costs.