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

President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.

Volvo CEO Hakan Samuelsson urged the European Union to slash its auto tariffs on the US — an apparent bid to sway President Trump to lower his own hefty duties on foreign vehicles. The automaker, which is majority-owned by China’s Geely Holding, currently faces a steep 27.5% tariff on its imports.

Germany’s Volkswagen cut its financial guidance for 2025 after US tariffs took a €1.3 billion toll on its income in the first six months. But European sales and EVs appear to support future growth. Vi

European Union countries have expressed broad support for one round of 30% retaliatory tariffs if the United States does not reach a trade deal with the EU.

Ahead of meetings in Stockholm next week with Chinese counterparts, Bessent said President Donald Trump is focused on reviving domestic precision manufacturing and correcting what he called a “highly imbalanced” relationship with China.

One team of economists found clear price increases for American consumers due to President Donald Trump’s tariffs. I, a chart, they compare the price tags for imported goods with those for goods made in the U.

The United States appears firm on its slated tariff increase on the EU following comments made by U.S. Commerce Secretary Howard Lutnick over the weekend.