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EU trade ministers discuss €72 billion retaliatory tariffs on US goods

Caught off guard while preparing to sign an agreement in principle with the US on tariffs, the EU is gearing up for retaliation in case negotiations fail following the new US threats over the weekend.

Markets

European markets open in the red after Trump threatens 30% EU tariff

The president of the European Commission Ursula von der Leyen said the EU would not impose retaliatory tariffs on US imports before 1 August, allowing time for negotiation.

Economy

China’s exports beat expectations with US trade agreement now secured

Exports to the US remained in negative territory in June although the decline was softer than in May. There was an annual rise in exports sent to other nations as China seeks to diversify its trade.

Europe News

EU trade ministers to mull US tariffs as Germany’s Merz cautions calm

US President Donald Trump's letter warning the EU that 30% tariffs will apply from 1 August unless a deal is reached has turned up pressure on trade negotiations.

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Europe News

Leaders of EU and Mexico criticise Trump's 30% tariffs and urge unity

Several European leaders and Mexican President Claudia Sheinbaum have expressed disappointment at the 30% tariffs US President Donald Trump has announced, but maintained openness to reach a negotiated solution.

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Brazilian demonstrators rally against Trump and urge taxing the rich

Thousands of demonstrators gathered in São Paulo on Thursday to protest against US President Donald Trump’s tariff threats and demand higher taxes on the super-rich.

Economy

Which European economy stands to suffer the most from US tariffs?

One-fifth of the EU’s exports are heading to the US. Tariffs on the carmaking sector hit the German economy the most, but potential tariffs on the pharmaceutical one could cost substantially to the Irish economy.

Economy

Trump plans to hike tariffs on Canadian goods to 35%

It was unclear from Trump's Thursday letter how the higher tariffs would interact with the 2020 United States Mexico Canada Agreement that Trump negotiated. Under the current tariff regime, the USMCA has protected eligible goods. But a review of the pact is scheduled for 2026.

Business

As US tariff deal approaches, EU worries about what’s next

A preliminary agreement to ease the tariff dispute with the US is considered imminent, but the EU is concerned about the negotiations of a comprehensive deal and the transatlantic relationship that will follow.

USA

Trump threatens Brazil with 50% tariff, demands Bolsonaro trial ends

Brazil’s prosecutor-general has filed charges against former President Jair Bolsonaro for attempting a coup to stay in office after his 2022 election defeat.

Economy

German Chancellor says he’s confident EU-US trade deal will come soon

The EU is working to avoid a tariff rate as high as 50% ahead of a 1 August deadline. It now appears that a 10% duty is on the table.

Economy

Trump is addressing more nations with tariff letters - what's next?

The US President has been sending letters to various countries to address major trade agreements. But according to experts, they tell a confusing story about his policies.

Markets

US copper prices soar after Trump threatens 50% tariff on imports

The 50% duty would match the rate placed on steel and aluminium imports. The president also said he plans to impose a tariff of up to 200% on pharmaceutical drugs.

Europe News

EU examines US proposal of 10% tariffs but concerns remain on sectors

A preliminary agreement is expected by Wednesday, according to sources, with implementation planned by 1 August. Negotiations are accelerating to secure exemptions from a baseline 10% tariff in some strategic sectors.

Economy

German exports drop as US shipments decline ahead of tariff deadline

Exports had jumped in February and March as German manufacturers sought to get ahead of tariffs threatened by the US. Shipments then dropped dramatically in the following two months, pointing to a short-lived surge.

Economy

Trump sends tariff letters, placing 25% duty on Japan and South Korea

Higher tariffs had been set to come into effect on 9 July, although the US president has now moved this date to 1 August.

Economy

Trump talks of new August tariff date and looks for more trade deals

The US president warned that tariffs would return to their higher rates on 1 August, after the proposed 9 July deadline.

USA

Donald Trump says new tariffs of up to 70% will begin 1 August

Donald Trump stated that "10 or 12" letters would be sent out on Friday, with others to follow, ahead of a 9 July deadline for countries to strike deals and avoid higher import costs.

Economy

EU and US aim for political understanding to resolve tariff dispute

As deadline for negotiations on trade with the US looms, the EU and US are seen heading for a basic deal, leaving more detailed wrangling over sectors for later.

Markets

US stocks rise as investors prepare for Trump’s tariff deadline

Many of Trump’s announced tariffs have been postponed and are due to kick back into effect on 9 July.

Stay on top of the latest news about Trump tariffs and their effects on the global economy.