The Trump administration has been talking up provisions of its deal with the European Union that would secure hundreds of billions of dollars in investments.

President Donald Trump just wrapped up a meeting with U.K. Prime Minister Keir Starmer a day after announcing a new trade deal with the European Union.

Europe's carmakers, already battling stiff competition from Asia and a costly transition to electric cars, were dealing with another dose of reality on Monday - tariffs imposed by U.S. President Donald Trump.

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.

President Trump has announced a trade agreement with the European Union. CBS News' Olivia Rinaldi and Javier David have details on the deal.

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