European Commission President Ursula von der Leyen defended the trade deal clinched with United States on Sunday as "the best we could get" and not to be underestimated given the looming threat of 30% tariffs that had been hanging over the EU.

European Commission President Ursula von der Leyen on Sunday said a U.S. baseline tariff rate of 15% on imported EU goods would apply to cars, semiconductors and pharmaceutical goods.

The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($109 billion) of...