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%.

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

President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out a US-EU trade deal. Without an agreement, the EU was due to get hit with a 30% tariff rate on Aug.

President Donald Trump is traveling to Scotland as his family’s business prepares to open a new golf course in Aberdeenshire, billed as “the greatest 36 holes in golf."

Tariffs, including the 15% rate for most imports from the EU, would raise consumer prices by 1.8% in the short run, according to the Yale Budget Lab.