TACO or tariffs? An August 1 deadline looms after the European Union became the latest of the top US trading partners to reach a deal with Trump.

President Donald Trump on Tuesday will conclude his trip to Scotland, where the United States and the European Union announced a sweeping trade deal that imposes 15% tariffs on most European goods. Trump had initially threatened tariffs of 30% against the EU in April.

The EU, a group of countries with shared economic interests, exports about $2 trillion worth of goods to the U.S. The 27 countries had hoped for a lower tariff of 10%, similar to the deal Trump negotiated with the U.K. and well below the original threat of 30% tariffs, but most analysts expected something closer to 15%.

President says blanket import levy of 15%-20% likely in the offing for countries without individual trade agreements

Donald Trump plans new import tariffs from August 1. A study says this may hurt US manufacturers. Costs could rise by 2% to 4.5%. This may lead to wage stagnation or layoffs. Trump says tariffs will boost US manufacturing.

As President Donald Trump prepares to announce new tariff increases, the costs of his policies are starting to come into focus for a domestic manufacturing sector that depends on global supply chains,

BRUSSELS - The tariff-and-spending accord announced Sunday by the United States and the European Union stands to avert a damaging trade war between two of the world’s largest economies, but it is lopsided in favor of President Donald Trump’s protectionist policies,

The new tariff on pharma imports to America from the EU will be 15pc, the White House has confirmed in a new fact sheet it has published today. The clarification should bring an end to the confusion that has surrounded this aspect of the EU-US trade deal that was finalised by President Donald Trump and Ursula von der Leyen,

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.