U.S. President Donald Trump announced on Sunday a new trade agreement with the European Union that includes the imposition of a 15% tariff on most European goods, effectively ending months of uncertainty in transatlantic trade relations.

Speaking at a joint press conference in Turnberry, Scotland, alongside European Commission President Ursula von der Leyen, Trump said the deal resolves previous threats to impose tariffs of up to 30%, calling the outcome a “mutually satisfactory agreement.”

As part of the deal, the EU has agreed to purchase $750 billion worth of American energy and to make direct investments totaling $600 billion in the U.S. market. Trump did not provide further details on the nature of those investments or the timeline for their implementation.