The U.S. and EU are close to reaching an agreement on a 15% tariff rate as part of a similar deal to the one agreed with Japan earlier this week, The Wall Street Journal reported Wednesday.

BIG NEWS!  The U.S. and Japan have reached a trade agreement that will reduce tariffs on Japanese vehicles and auto parts to 15 percent-down from the 25 percent rate that was set to take

The US and Japan this week reached what President Donald Trump called the largest trade deal in history after Tokyo pledged to set up a $550 billion fund for investment into the US, details of which remain obscure.