U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal. It raises tariffs on most European goods to 15%.

According to the European Union, in 2024, EU exports of medicinal and pharmaceutical products increased by 13.5% compared with 2023, reaching €313.4 billion ($361.3 billion), resulting in a trade surplus of €193.6 billion, marking a record high.

The European Union and the United States announced a tariff deal on Sunday that will see most EU exports face a 15% tariff, nearly three months after Britain locked in a 10% baseline tariff rate. EU leaders have said their deal offers more certainty given the threat of higher U.

Dutch healthcare technology company Philips slashed its estimated tariff impact on Tuesday after the United States and the European Union agreed a trade deal that imposes a 15% rate on most goods imported from Europe.

Von der Leyen said the 15% rate was “all inclusive,” but Trump later added that it didn’t apply to pharmaceuticals and metals though it does to autos. “I think that basica

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

The deal provides clarity for companies after months of uncertainty, and global markets breathed a sigh of relief as they opened on Monday, with stocks rising and th

White House officials are meeting Chinese officials in Stockholm this week to hammer out more details for a framework between the world’s two largest economies.