TURNBERRY, Scotland, July 27 (Reuters) - The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade.

GTRI called for India to take a cue from the experiences of countries like Vietnam and Japan and insisted that India should ask for a jointly issued, written statement before acknowledging any deal.

Japan's chief tariff negotiator Ryosei Akazawa speaks to the media after a meeting between Prime Minister Shigeru Ishiba and Treasury Secretary Scott Bessent in Tokyo, on July 18, 2025. Shuji Kajiyama/AP

Japan's chief negotiator reached an agreement with U.S. Commerce Secretary Howard Lutnick in mid-June on a deal offering massive Japa

President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out a US-EU trade deal. Without an agreement, the EU was due to get hit with a 30% tariff rate on Aug.

Japan will buy 100 Boeing aircraft and boost US defense equipment purchases under a new trade deal announced by the Trump administration.

Asian shares are higher, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals

Wall Street climbed Wednesday after President Donald Trump reached a trade deal with Japan and hopes rose for more agreements by August 1.