The United States and the European Union avoided the worst-case scenario: a damaging, all-out trade war between allies that threatened to raise prices on a large number of goods and slow two of the world’s largest economies.

President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.

The European Union and the United States have struck a deal to avoid a painful trade war between the transatlantic allies. Under the deal struck Sunday, the EU says the United States has agreed that whatever the outcome of those investigations,