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.

The European Union could hit the United States with counter-tariffs on 93 billion euros ($109 billion) worth of U.S. goods if the two sides fail to reach a trade deal by Washington's August 1 deadline for imposing import levies.

With the Trump administration setting 15% as a floor for tariffs, companies and economists are warning of higher prices later this year.

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

The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1,

The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

In fact, the higher costs on imports has trickle-down consequences for Texas industries.

President Trump’s auto tariffs have riddled Volkswagen, which said it was hit with a $1.5 billion profit dent after the onset of the new U.S. trade policies.  Volkswagen said the “decline in

President Donald Trump released two tariff letters on Saturday, imposing duties of 30% on products from Mexico and the European Union.

Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”