Balancing economic interests and security concerns, European officials said they got the best deal possible with President Donald Trump, but critics said Brussels ceded to pressure.

That statement came some 12 hours after Trump announced an agreement Sunday with the European Union that would see a 15% tax paid on products brought into the United States from the bloc. The E.U. also agreed to spend $750 billion on energy purchases from the U.S., while investing an additional $600 billion here.

Top trade officials from China and the United States have launched a new round of talks aimed at easing tensions over tariffs.

The figures are significant because they represent a major increase from the 10% baseline tariff Trump announced in April of this year.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

President Trump's trade strategy, marked by elevated tariffs, is yielding agreements with nations like the EU, Japan, and Vietnam. The EU accepted 15% US tariffs and committed to significant purchases and investments.

A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

As Trump eyes an Aug. 1 deadline for countries to come to trade deals or face the tariffs that he originally announced in April, he has touted the agreements he has made in recent days — while maintaining that it would be difficult to meet with all world leaders.

Trump’s statement comes a day after he announced a trade deal with the EU, which would see a 15 per cent tariff imposed on most European goods being exported to the U.S.

President Donald Trump said Monday he may shorten the time Russian President Vladimir Putin has to end his war on Ukraine before imposing heavy tariffs on Russia.