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President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal between the U.S. and European Union on Sunday.

The announcement came moments after the two had addressed the media, agreeing that the likelihood of an agreement was about 50-50.

<i>This is a developing story. Check back soon for updates.</i>

<div class="author-bio"><p>Anders Hagstrom is a reporter with Fox News Digital covering national politics and major breaking news events. Send tips to Anders.Hagstrom@Fox.com, or on Twitter: @Hagstrom_Anders.</p></div>

President Donald Trump announced a trade deal with the European Union on Sunday after EU Commission President Ursula von der Leyen said the process took "heavy lifting."{ai:summary}<p>President Donald Trump and European Commission President Ursula von der Leyen announced a new trade deal between the U.S. and the European Union. The agreement follows their earlier media address, where they assessed the chances of reaching a deal at about 50-50. </p><p>This is a developing story, and updates are expected soon. #politics</p>

Trump announces trade deal with European Union

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