The deal, which includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment, will bring welcome clarity for EU companies though many in Europe will see it as a poor outcome.

The deal was struck less than a week before the U.S. threatened to levy a much higher 30% tariff on European goods.

In remarks before the session, Trump pledged to change what he characterized as “a very one-sided transaction, very unfair to the United States.” “I think the main sticking point is fairness,” he said while also noting,