EU, Trump and tariff
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President Donald Trump's 30% tariffs on European Union goods could drive up costs across the world's alcohol trade. The EU is eyeing retaliatory measures.
EU trade chief Maros Sefcovic will head to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.
President Trump stated the U.S. is nearing a trade agreement with India and potentially the EU, while a deal with Canada remains uncertain. These negotiations occur before an August 1 deadline that could see increased duties on U.
EU trade ministers have agreed that U.S. President Donald Trump’s 30% tariffs announced on the European Union are “absolutely unacceptable,” and they are studying a new set of countermeasures to respond to the move.
Things aren’t looking good for Mexico either. In a letter addressed to Mexican President Claudia Sheinbaum, Trump said that while the country had been “helping me to secure the border.” However, if Mexico wants the US to adjust the levies, it needs to be “successful in challenging the Cartels and stopping the flow of Fentanyl.”
Officials have secured an agreement across the bloc to slap tariffs on US goods, ranging from US-made cars to bourbon whiskey.
The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.
Trump's tariffs have companies scrambling as they navigate cost increases. Here are the companies that have talked about hiking prices.
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