(NAFB.com) – The United States and the European Union agreed to a trade deal. The BBC said that it ends a standoff that lasted months between two of the world’s biggest economies. Make-or-break negotiations recently took place between President Donald Trump and European Commission President Ursula von der Leyen in Scotland. At the conclusion, they agreed to a U.S. tariff of 15 percent on all goods from the EU, which is half of the 30 percent import tax rate that Trump had threatened to implement beginning on Friday. Trump added that the EU would open its 27-member bloc markets to U.S. exporters with zero percent tariffs on certain goods. Von der Leyen also applauded the deal, saying it will bring more stability to both sides, which together account for approximately one-third of global trade. One of the EU’s top officials called the deal a “framework” and said the technical details would be negotiated soon.