President Donald Trump and European Commission President Ursula von der Leyen met for a pivotal discussion before Trump’s Aug 1. tariff deadline.

Reaction has been pouring in to the newly struck EU-US trade deal, with the EU facing growing criticism over a compromise many see as a strategic misstep under pressure from Washington.

President Donald Trump shakes hands with European Commission President Ursula von der Leyen, as US Commerce Secretary Howard Lutnick, US Trade Representative Jamieson Greer and White House Deputy Chief of Staff Stephen Miller clap after an announcement of a trade deal between the US and EU in Turnberry, Scotland, on July 27.

The U.S. Secret Service made an announcement regarding President Trump's golf career on Monday. President Trump, 79, played a couple of rounds of golf over the weekend. The President of the United States was in Scotland, working on a deal with the European Union. President Trump played 18 holes of ...

The EU has pledged to buy $750 billion of energy from the U.S. in exchange for a lower rate tariff rate in its trade deal, but analysts say this is unrealistic.

"I think it's the biggest deal ever made," Trump said of the new agreement, which will reduce the bloc's tariff rate to 15 percent.

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%.

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.

The deal, announced Sunday by President Trump and European Commission President Ursula von der Leyen, imposes a 15% U.S. tariff on most EU imports, while American goods exported to the union's 27 member countries will face no tariffs. Previously, U.S. exports to the EU faced an average tariff of roughly 1%, according to Goldman Sachs analysts.

The US and the EU will have zero tariffs on aircraft and their components, some chemicals, some generic drugs, some semiconductors, some agricultural products and essential raw materials. Alcoholic beverages are not included in the agreement. The 50% tariffs on steel and aluminum remain.

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.