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A major transatlantic trade row has been avoided for now, live in the UK.

This is the Marketplace Morning Report from the BBC World Service.

I'm Leanna Byrne. Good morning.

So EU leaders are being briefed today on a new deal with the United States that halves the

Tower of President Trump threatened to put on European goods. But the compromise still means a 15%

import tax on most products. German exporters say the agreement is a relief, but not everyone is happy.

Hungary's Victor Orban called it a humiliation, and the French Prime Minister says it's a submission.

Neil Richmond is Minister of State in Ireland. To be honest, this is a less bad deal than what we were

looking at 48 hours ago. What we can take from this deal is two things. One, it does provide that element of certainty to businesses across the European Union that we actually know what we're dealing with now and can continue on our daily business. And secondly, it just could have been a lot worse. That was Irish Minister, Neil Richmond. So who's really got the better end of the deal and what does this mean for businesses?

Let's ask the BBC's Theo Leggett. Hello.

Hello, Leanna.

So what's the significance of this deal?

...