The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

The pact would set duties of 15 percent on imports of items such as wine and automobiles, or about half the 30 percent the president had recently threatened.

President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week.