US President Donald Trump has agreed to limit tariffs on pharmaceuticals and semiconductors from the EU to 15%, down from previously threatened rates of up to 250%. The agreement requires the EU to first reduce US export tariffs to zero to achieve this. The deal, which was described as a 'first step' in improving US-EU trade relations, was welcomed by EU officials and Irish leaders, although there was disappointment over the exclusion of wine and spirits from tariff exemptions.