A historic trade deal has been agreed between the US and the EU, with President Donald Trump declaring the agreement will "bring us closer together".
The deal, which has been a work in progress for some time, was finally sealed in a meeting between Trump and European Commission President Ursula von der Leyen at the Turnberry golf resort.
As part of the deal, a US tariff on all EU goods of 15% was agreed - half of the 30% tariff the US president had threatened to impose.
Trump, the BBC reports, said the EU would also open its markets to US exporters with 0% tariffs on certain products.
He also said the EU would increase its investment in the US by $600billion (£446billion), including American military equipment, and spend $750billion (£558billion) on energy to reduce its reliance on Russian energy.
While von der Leyen said the deal would bring stability for all parties, France's European Affairs Minister Benjamin Haddad was less positive, describing it as "unbalanced".
Anncouncing the agreement, Trump said: "We have reached a deal. It's a good deal for everybody.
"It's going to bring us closer together."
FTSE 100
The UK's flagship share index, the FTSE 100, was up 46 points at 9,150 shortly after opening this morning.
Brent crude oil futures were up 0.62% at $68.14 a barrel.
Companies reporting today
- Cranswick - Q1 Trading Statement