The pact would set duties of 15 percent on imports of items such as wine and automobiles, or about half the 30 percent the president had recently threatened.

President Donald Trump announced a trade agreement on Sunday with the European Union that would lower tariffs to 15%, ending what had been months of uncertainty surrounding trade with the United States’ largest trade partner.

In a landmark agreement, President Donald Trump and the European Union have reached a pivotal trade deal, eliminating tariffs for three major European export sectors to the U.S.