WASHINGTON -- The United States and European Union on Thursday released new details of their trade agreement, including tariff levels for consumer staples like pharmaceuticals and autos.

Prior to the agreement last month, the European Union faced the prospect of a 30% tariff rate. Instead, products from one of the largest U.S. trade partners will be slapped with a 15% tariff.

In exchange, the EU will remove tariffs on U.S. goods and European companies will aim to buy hundreds of billions of dollars in U.S. products.

"This Framework Agreement will put our trade and investment relationship, one of the largest in the world on a solid footing and will reinvigorate our economies' reindustrialization," the U.S. and EU said in a joint statement on Thursday.

The fresh information about pr

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