US President Donald Trump and EU chief Ursula von der Leyen shake on it after "tough negotiations" in Scotland.

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

President Trump met with top European officials demanding fairer trade with the 27-member European Union at his golf course on the Scottish coast.

Trump had most recently threatened tariffs of 30% on imports from the European Union. But on Sunday, he met with the president of the European Commission, and they agreed to a lower level.

President Trump met Ursula von der Leyen, the chief of the European Commission, in Scotland, and the two said they had an agreement on trade.

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 United States and the European Union announced a trade framework Sunday after a meeting between President Trump and European Commission chief Ursula von der Leyen.

The US and European Union agreed to an understanding that will see the bloc face 15% tariffs on most of its exports, staving off a trade war that could have delivered a hammer blow to the global economy.

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.

Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”