EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher imports on both sides that might have sent shockwaves through economies around the globe.

The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade.

U.S. trade deal and said it was weighing all options to deal with growing tariff challenges long-term, including shifting manufacturing.

Malaysia’s central bank lowered its growth projection for 2025 as it contends with the fallout from US President Donald Trump’s tariffs.

The Trump administration's 17% duty on fresh tomatoes imported from Mexico is creating challenges for the country that supplies the most tomatoes to U.S. consumers.

Gold prices climbed in choppy trading on Monday, as a weaker dollar helped offset pressure from improved risk appetite following a trade framework agreement between the United States and the European Union.

President Trump said he's considering using money generated by U.S. tariffs on imports to offer a "little rebate" to Americans.