Trump had most recently threatened tariffs of 30% on imports from the European Union. But on Sunday, he met with the president of the European Commission, and they agreed to a lower level.

The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen.

London's main stock indexes inched higher on Monday as investors assessed a trade deal between the United States and the European Union.

President Trump is set to meet with European Commission President Ursula von der Leyen on Sunday amid signs the two sides could be closing in on a trade deal. Von der Leyen, who leads the European Union's executive body,