The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

TURNBERRY, Scotland, July 27 (Reuters) - The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade.

A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.

President Donald Trump began talks Sunday in Turnberry, Scotland, with European Commission President Ursula von der Leyen, as Friday’s deadline looms to reach a trade deal to avoid the 30% tariffs on European imports.

Europe's largest car manufacturer Volkswagen is hoping investment commitments can help it negotiate further concessions on U.S. tariffs once Washington and the European Union strike a broad trade deal,