EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

The pound fell to a 10-week low against a stronger dollar on Tuesday, while staying just off a two-year low against the euro, as markets continue to digest the announcement of the trade deal between the European Union and the United States.

President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.