Trump and EU reached trade framework to avoid 30% tariffs, with EU committing $750B in energy purchases and $600B investment.

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 announced a trade framework Sunday after a meeting between President Donald Trump and European Commission

The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.