President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week.

The European Union dodged an imminent trade war with the US this week, but markets and a growing chorus of critics have dispelled early hopes that the deal will bring a sense of stability back to transatlantic relations.

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%.

Some European politicians are dismayed that the European Union did not drive a harder bargain, but facing the threat of a damaging trade war, officials say they had little choice.

Goldman lifted its growth forecasts for the eurozone following the U.S.-European Union trade deal. For 2025, Goldman now expects economic growth in the currency bloc of 1.1%, versus 1% before. For 2026,

Gulf equities were little changed in early trade on Tuesday as investors cautiously greeted a trade agreement between the U.S. and the European Union, while lacklustre second-quarter earnings weighed on sentiment.

German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.

The deal was struck less than a week before the U.S. threatened to levy a much higher 30% tariff on European goods.