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 deal, announced Sunday by President Trump and European Commission President Ursula von der Leyen, imposes a 15% U.S. tariff on most EU imports, while American goods exported to the union's 27 member countries will face no tariffs. Previously, U.S. exports to the EU faced an average tariff of roughly 1%, according to Goldman Sachs analysts.