Trump announces that the US and the EU have reached a framework agreement on trade

The United States and the European Union have reached a framework agreement on trade. This was announced by U.S. President Donald Trump after talks with European Commission President Ursula von der Leyen, according to CNN.

Trump announces 15% tariff on imports from 27 EU countries, ending months-long saga with America's largest trading partner as EU seeks to keep baseline tariffs at 10%.

"We agree that the tariff on cars and everything else will be a direct tariff of 15%," Trump said.

Speaking with von der Leyen, he said that the EU "will agree to buy $750 billion worth of energy from the United States".

"They will agree to invest $600 billion more in the United States than they are investing," he added.

Trump began talks with von der Leyen earlier on Sunday as the deadline for a trade deal that would avoid 30% tariffs on European imports approached.

On the same day, Trump said that the US could not reduce the overall tariff rate for the EU below 15%.

• On July 13, it was reported that the EU has postponed the start of new tariffs on US goods to try to reach a trade deal with the Trump administration.