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.

Experts at Bankrate have warned that the cost of President Donald Trump’s tariffs could ultimately be passed on to American consumers, unless importers or businesses absorb the costs

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

TURNBERRY, Scotland, July 27 (Reuters) - European Commission President Ursula von der Leyen met U.S. President Donald Trump on Sunday to clinch a trade deal that would likely result in a 15% tariff on most EU goods, but end months of uncertainty for European Union companies.

President Trump is visiting Scotland where he will open a new golf course in the Aberdeen area, the historic oil capital of Europe and home to major North Sea energy operations.