EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

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

President Donald Trump says he has clinched a trade deal with Europe that will avert the possibility of trade-killing 30% tariffs on the bloc’s exports to the U.S. But many important details remain unclear, so assessing the arrangement’s impact on consumers is a little difficult.