European shares ended higher on Thursday after U.S. President Donald Trump announced a trade deal with Britain to lower tariffs, the first such agreement since Trump sparked a global trade war with his universal levies.

The European Union (EU) plans to respond to President Trump by possibly imposing tariffs over $100 billion on U.S. goods if talks with Washington do not bring about an adequate outcome. The European Commission,

Most European companies in China have so far been able to limit the direct damage from the trade war, a survey has found, though a majority conceded their business environment has grown more challenging this year.