The United States and the European Union avoided the worst-case scenario: a damaging, all-out trade war between allies that threatened to raise prices on a large number of goods and slow two of the world’s largest economies.

Donald Trump has struck an agreement with the European Union to reduce tariffs - what will that mean for the UK?

The dollar jumped Monday on the back of the US-EU trade deal, but the main European stock markets fell, reflecting unease at terms viewed as lopsided.Shares in European companies tracked the unease at the EU-US deal.