(The Hill) -- The White House on Thursday announced a highly anticipated trade deal with the European Union (EU).

Trump administration officials said EU counterparts have agreed to eliminate all tariffs on industrial goods imported from the U.S. and widen preferential market access to seafood and agricultural products.

In exchange, most EU exports — notably automobiles and parts, pharmaceuticals, semiconductors and lumber — will be taxed at 15 percent. The group of 27 member nations also agreed to ensure its companies invest $600 billion in the U.S. and to purchase at least $750 billion worth of U.S. energy, according to the White House.

“This Framework Agreement will put our trade and investment relationship – one of the largest in the world — on a solid footing and will reinvigorate o

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