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

The U.S. and the European Union have agreed to a trade framework that will result in 15% tariffs on most imported European goods, President Donald Trump announced Sunday. The deal comes a week before Trump’s Aug.

However, the EU president was more muted in her assessment of the deal, specifically on tariffs which will be 15% for most goods the bloc sells to the US which she said was “the best we could get.” Currently, the tariff on EU goods is 10% but Trump warned this could surge to 30% if a deal was not agreed by August 1.