The framework deal, announced as a joint White House-EU statement, also includes providing the United States with "preferential" market access for a wide range of its seafood and agricultural products.

European shares are expected to close the year a touch higher than where they are currently trading, a Reuters poll found, as support from looser fiscal and monetary policy will be kept in check by uncertainties over Washington's import tariffs.

The European Commission says it presumes the United States will impose a 15% tariff on most EU exports from Friday.

The EU’s exports to the U.S. declined in June and hit their lowest level since the end of 2023, according to statistics agency Eurostat.

U.S. President Donald Trump has interrupted his talks in Washington with European leaders to call Russian President Vladimir Putin, an EU diplomat told Reuters on Monday.

On Aug. 18, 2025, Trump met European, EU and NATO leaders at the White House to discuss the ongoing war in Ukraine.

On July 27, Ursula von der Leyen, the president of the European Commission and President Trump agreed to a deal that included a 15% tariff on most goods from the EU.

The framework includes a 15% tariff on most EU imports, while the EU pledges to remove tariffs on all U.S. industrial goods

The United States and European Union have agreed on a “joint statement” providing additional details of the trade deal that they announced last month, but the two sides still face weeks or months of additional negotiations to iron out their remaining issues.