That statement came some 12 hours after Trump announced an agreement Sunday with the European Union that would see a 15% tax paid on products brought into the United States from the bloc. The E.U. also agreed to spend $750 billion on energy purchases from the U.S., while investing an additional $600 billion here.

The figures are significant because they represent a major increase from the 10% baseline tariff Trump announced in April of this year.

Balancing economic interests and security concerns, European officials said they got the best deal possible with President Donald Trump, but critics said Brussels ceded to pressure.

The good news is that an all-out transatlantic trade war appears to have been averted. European Commission President Ursula von der Leyen has confirmed the broad outlines of the accord, which appears to be more of a framework than a formal line-by-line agreement.