Countries are preparing to respond in-kind if Trump follows through on his latest threats. Domestic industries fear the worst.

The EU as a whole has an annual trade surplus with the United States of $235.6 billion, according to the Bureau of Economic Analysis (BEA), which reports to the U.S. Department of Commerce. Only China has a higher amount. Ireland has the largest surplus among EU members, at $86.7 billion.

President Donald Trump announced new tariffs on imports from the European Union (EU) and Mexico, aiming to improve trade deals and national security, while economists warn of potential price increases.

The European Union is pushing back against US tariff threats, signaling potential retaliatory measures if negotiations fail. The impending tariffs, set by President Trump, could significantly impact transatlantic trade,

The 30% tariff on EU imports could severely impact transatlantic trade. EURUSD has held steady as markets expect the tariffs may be reduced. Furthermore, the impact of tariffs has been less than feared.

United States President Donald Trump has threatened to impose steep trading restrictions on Russia unless a peace deal with Ukraine is reached within 50 days, as he announced an agreement with NATO allies to send more weapons to Kyiv.

The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) climbed 2.7 per cent year-over-year in June, up from May’s 2.4 per cent rise

US consumer inflation rose 2.7% in June, driven by higher energy costs and tariffs, according to government data.