President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.

Details: Trump announced the deal alongside European Commission President Ursula von der Leyen during a trip to Scotland. Trump said the EU agreed to buy more than $750 billion wo

Both sides hailed the agreement as the biggest ever. But it will come at a cost to the European Union, and many details have yet to be nailed down.

But the worst-case scenarios were so bad that Europe’s trade negotiators gave up on returning to anything close to those halcyon days. Over the past few months Mr Trump, convinced that the EU was ripping off his countrymen,

The Europe trade deal will see the U.S. impose a 15% import tariff on most EU goods − half the threatened rate but much more than Europeans hoped for.

The framework agreement will likely not do much for economic growth on either side. But it avoids new fissures on other foreign policy issues, particularly the war in Ukraine.

President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week.

The new trade agreement between the U.S. and the European Union will lift tariffs on imports of goods from EU countries to their highest level in decades and hurt the trading bloc's economic growth, according to some experts.

President Trump has announced a trade agreement with the European Union. CBS News' Olivia Rinaldi and Javier David have details on the deal.

President Trump announces a trade deal with the European Union as his self-imposed August 1st deadline for trade negotiations looms. CNBC Washington Correspondent Megan Cassella and NBC News White House Correspondent Vaughn Hillyard discuss the implications of the EU deal and where trade negotiations stand with other countries.

"I think it's the biggest deal ever made," Trump said of the new agreement, which will reduce the bloc's tariff rate to 15 percent.

France denounced the trade agreement between the European Union and the U.S. as a "submission" on Monday though other EU states largely backed a deal they acknowledged was lopsided but which averts an economically damaging trade war with Washington.