Amid high stakes negotiations, President Trump announced a preliminary trade deal with the European Union, which establishes a flat 15% tariff on EU goods entering the U.S. The agreement, reached just ahead of a looming deadline, aims to prevent a potential escalation of trade tensions. Both Trump and EU Commission President Ursula von der Leyen expressed cautious optimism about the deal, highlighting the significance of this framework as a way to avoid a 30% tariff increase that could have triggered a trade war. The deal has received mixed reactions, with various stakeholders weighing in on its implications for international trade and the economic landscape.