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yesterday

Trump’s 30% Tariffs on EU Imports and 35% on Canadian Goods Take Effect August 1

EU leaders have delayed a €21 billion retaliation package until August 6 to weigh de-escalation offers against invoking the Anti-Coercion Instrument

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An der Vorderseite des chinesischen Handelsministeriums steht an einer Mauer in chinesischen Schriftzeichen "Handelsministerium der Volksrepublik China".
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Overview

  • US President Donald Trump will impose 30% duties on EU products and 35% tariffs on Canadian steel, aluminum and autos starting August 1
  • The European Union has suspended its initial €21 billion countermeasures until August 6 and is drafting a second package valued at up to €72 billion
  • European Commission President Ursula von der Leyen proposed a zero-for-zero tariff swap on industrial goods to defuse the dispute
  • German Chancellor Friedrich Merz is pressing for an asymmetrical deal with near-zero EU tariffs in exchange for US concessions, stirring debate within the bloc
  • Canadian consumers are boycotting US alcohol and travel in response to Trump’s tariff threats