The United States and the European Union agreed on a framework trade deal, which leaders on both sides of the Atlantic said would end months of uncertainty for industries and consumers.

Wall Street is coming off a winning week fueled by strong earnings and recent deals between the U.S. and its trading partners.

Both sides hailed the agreement as the biggest ever. But it will come at a cost to the European Union, and many details have yet to be nailed down.

U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal.

The United States and European Union clinched a trade agreement on Sunday that will see EU exports taxed at 15 percent, in a bid to resolve a transatlantic tariff stand-off that threatened to explode into a full-blown trade war.

European Commission President Ursula von der Leyen met U.S. President Donald Trump on Sunday to clinch a trade deal that would likely result in a 15% tariff on most EU goods, but end months of uncertainty for European Union companies.