The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen.
A White House deadline was days away for imposing punishing import taxes on the 27-member EU, which is America's leading global trading partner.
"Today's deal creates certainty in uncertain times," von der Leyen said.
"It delivers stability and predictability for citizens and businesses on both sides of the Atlantic."
Trump said the EU had agreed to buy some $750 billion worth of U.S. energy and invest $600 billion more than it already is in America, as well as making a major purchase of military equipment.
The announcement came after Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland.
Their private meeting culminated months of bargaining, with the White House deadline Friday nearing for imposing punishing tariffs on the 27-member EU.
Inputs from AP
