President Trump and the president of the European Commission, Ursula von der Leyen, unveiled a trade deal over the weekend, with tariffs set at 15 percent for European goods.

The European Union is also set to buy $750 billion in American energy in the deal, Trump announced, and agreed to invest an additional $600 billion in the U.S.

Trump had previously threatened to impose 30-percent tariffs on the EU, which would have started in early August.

“I think it’s the biggest deal ever made,” Trump said.

Here’s what you need to know about the agreement:

What led up to the deal?

Trump’s tariff policy in the first few months of his second term rankled countries across the globe, including allies like Canada and the European Union.

In April, the president unveiled his “Liberation........

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