Trump to meet with EU leader in Scotland for trade talks
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The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1,
Importers and exporters based in Texas have so far avoided the harshest effects of the trade war sparked by President Donald Trump’s tariffs on imports from a host of countries, but they could be in for a rude awakening come Monday.
President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.
In fact, the higher costs on imports has trickle-down consequences for Texas industries.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.