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France describes it as a "submission", though there is relief in Europe that a trade war has been averted.
Businesses both small and large are already reckoning with Trump's tariffs, and new levies are set to start this week.
US President Donald Trump and EU chief Ursula von der Leyen shake on it after "tough negotiations" in Scotland.
Economists say the president's import taxes could result in higher prices for a range of products in the US.
Carmakers, consumers and European solidarity - a look at who is up and who is down due to the latest tariffs.