The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

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,

While annual inflation in the euro area hit the central bank's 2% target last month, traders widely expected a hold in July — in large part due to geopolitical volatility. The U.S. is the EU's biggest bilateral trade and investment partner and the 27-member bloc exported 503 billion euros ($590 billion) in goods to the States last year.

A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.

In fact, the higher costs on imports has trickle-down consequences for Texas industries.

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.

Updated April 09, 2025 at 18:10 PM ET. All member countries of the European Union except Hungary voted Wednesday in favor of proposals that would impose tariffs on specific U.S. products sold into ...

The U.S. has a fifty-fifty chance of striking a deal with the European Union that will result in lower tariff rates on imports, President Donald Trump told reporters Friday.