Europe trade

Early reports suggest that the new trade deal with Europe will help lower the trade balance between the US and Europe which currently stands at $130 billion. Under the new agreement the US will charge a 15% import tax on goods coming from Europe and Europe will not have an import tax on goods coming from the US but Europe will still maintain its VAT which is 17% to 27% depending on the country. Other things being equal this will lower the trade deficit.