The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

President Donald Trump told reporters at the Glasgow airport in Scotland on Friday that he will meet with the European Union on Sunday as the U.S. looks to strike a trade deal with them. He reiterated comments from earlier in the day that the U.

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

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

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

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

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.

Citing European Union (EU) officials and diplomats, Reuters reported on Friday that the EU and the United States (US) could each a framework deal on trade this weekend. The deal will reportedly include a 15% baseline tariff on all European imports, alongside a potential 50% tariff on steel and aluminium imports.