TURNBERRY, Scotland, July 27 (Reuters) - The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade.

US President Donald Trump and EU chief Ursula von der Leyen shake on it after "tough negotiations" in Scotland.

Trump's trade deals with the EU and Japan pave the way for the stock market to end with it's third straight annual gain of more than 20%, Oppenheimer said.

President Trump has offered sketchy and sometimes contradictory details in his recent trade frameworks. Yet markets don't seem to mind, viewing vague guidance as increased stability.

The United States and the European Union agreed to a 15 percent base tariff after weeks of negotiations, which were among the Trump administration’s most difficult discussions.

US stocks were mixed Monday and the S&P 500 eked out a record high for the sixth day in a row as investors digested the announcement of a trade deal between Washington and Brussels.

The dollar gained against major currencies including the euro and yen on Monday with sentiment lifted by a trade agreement between the U.S. and the EU, which brings market certainty and averts a global trade war.

The U.S. and European Union agreed on trade terms that include a 15% across-the-board rate on EU products as well as hundreds of billions of dollars of investments in American industry. President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out the agreement.