The United States and the European Union agreed on a framework trade deal, which leaders on both sides of the Atlantic said would end months of uncertainty for industries and consumers.

President Donald Trump says he has clinched a trade deal with Europe that will avert the possibility of trade-killing 30% tariffs on the bloc’s exports to the U.S. But many important details remain unclear, so assessing the arrangement’s impact on consumers is a little difficult.

President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.

German Chancellor Friedrich Merz said on Monday he was not satisfied with the result of trade talks with the United States, but "more simply wasn't achievable" and added the German economy would suffer "significant" damage due to the agreed tariffs.