The United States and European Union have struck a last-minute trade deal that imposes a 15% tariff on most EU goods entering the US, averting a threatened 30% tariff and a full-blown trade war. European leaders, especially in France and Germany, have criticized the agreement as a humiliating concession, with some calling it an act of 'submission.' The deal also includes massive EU commitments to purchase US energy and military equipment, though analysts doubt these promises are realistic. Pharmaceutical and auto industries are expected to be hit hard, with higher prices likely for consumers on both sides of the Atlantic. While the agreement brings short-term stability, it has triggered soul-searching in Europe over lost influence and the future of transatlantic relations.
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