The United States and the European Union have reached a preliminary trade deal to avoid a 30% U.S. tariff on imported goods from the EU that President Donald Trump threatened would go into effect on Aug.

President Donald Trump said Sunday that the U.S. and the European Union have agreed to a general framework on trade in which the U.S. will impose a 15% tariff on most goods imported from Europe, while most American goods will be imported into the EU tariff-free,