Europe is to be flooded with American cars and energy after Brussels struck an eleventh-hour trade deal with Donald Trump. Under the terms of a pact announced on Sunday, the European Union will face 15 per cent tariffs on exports to the US, staving off a full-blown trade war after months of negotiations.

Now, Trump has reached a similar agreement with the European Union. In this latest deal, agreed upon in a meeting between Trump and European Commission President Ursula von der Leyen in Scotland, a lower 15% tariff will be imposed on most European goods, which includes new cars.