Trump has set a baseline tariff of 10% on all imports to the United States, as well as additional duties on certain products or countries. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10 percentage points higher than what the president said he would apply to America's largest trading partner in April but lower than his mid-May threat of 50%.

Italy's foreign minister warned that, while he hopes for successful negotiations, the EU will respond resolutely to Trump's latest tariff threat.

President Donald Trump’s aggressive tariff campaign has, so far, yielded significant financial gains for the US government.TL;DRTrump’s tariffs have brought the US a record surge in customs revenue-$64 billion in Q2 2025.

President Donald Trump in recent days slapped tariffs as high as 50% on dozens of countries, restoring the type of aggressive trade policy that sent stocks plummeting a few months ago. The new round of levies prompted little more than a shrug on Wall Street.

Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the industry.

Elizabeth Warren introduces a price gouging bill to target big companies that use market shocks including a trade war to push through excessive price increases.

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.