European exporters say a 30% U.S. import tariff would drive prices unsustainably high and hammer their sales. While some manufacturers are shifting their supply chains stateside or elsewhere, not all businesses have the same flexibility — and can't easily replace the developed U.

The August 1 deadline gives the countries time to negotiate agreements that could lower the tariffs. Some investors and economists have also noted Trump's pattern of backing off his tariff threats.

The president's new tariffs on vehicles and auto parts have contributed to a slowdown in affordable car availability in the U.S., according to Cars.com.

EU trade ministers have agreed that U.S. President Donald Trump’s 30% tariffs announced on the European Union are “absolutely unacceptable,” and they are studying a new set of countermeasures to respond to the move.

Shares of U.S. spirits distillers slid in late trading amid reports that President Trump is pushing for a 15%–20% baseline tariff on imports from the European Union. Faced with the possibility of reciprocal tariffs on American exports of wine,

President Donald Trump announced that he is extending the deadline for a 50% tariff on the European Union until July 9, a measure he had earlier said would go into effect on June 1. "I received a ...