President Donald Trump announced Sunday that the United States and the European Union reached a framework for a trade deal, ending a monthslong saga with America’s largest trading partner.

The trade deal between the European Union and the US is “the lesser evil” as it helps avoid a wide conflict, according to the chief executive of Spain’s largest domestic bank.

Reaction has been pouring in to the newly struck EU-US trade deal, with the EU facing growing criticism over a compromise many see as a strategic misstep under pressure from Washington.