US, EU Finalize Trade Deal; Appeals Court Voids Trump’s $500 Million Penalty in Business Fraud Case

The United States and the European Union issued a joint statement on Thursday that frames the ongoing deal between the trade partners and solidifies some trade commitments. The agreement includes a 15 percent U.S. tariff on most imports from the bloc, including autos, pharmaceuticals, semiconductors, and lumber. The joint statement also says that the United States and the EU intend to accept and provide mutual recognition of each other's standards for cars.

President Donald Trump has scored a significant win with a New York appeals court throwing out the $500 million penalty he received in his business fraud case. The decision on Aug. 21 was issued after a hearing last year in which the appeals court seemed skeptical of the case against Trump.