BRIDGEWATER, N.J. — President Donald Trump on Saturday announced he's levying tariffs of 30% against the European Union and Mexico starting Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trade partners.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

"The EU and China are broadly on a colliding trajectory in terms of their trade and industrial policy concerns," he told CNBC. Bones of contention include the challenge of China's overcapacity and trade diversion to Europe, Stec, who is also head of the Mercator Institute's Brussels office, explained.

The European Union may be nearing a trade agreement with the United States but is struggling to obtain immediate tariff relief and a commitment not to introduce new measures, the head of the European Parliament's trade committee said on Wednesday.

The European Union prepares for potential new tariffs introduced by U.S. President Donald Trump amid ongoing trade negotiations. With Trump’s tariffs on imports from various countries rising, including a significant hike on Canadian goods,

Wall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled a more aggressive trade stance.

Economists and investors are left guessing by President Donald Trump’s tariff agenda as he grants extensions then threatens higher tariffs in letters to trading partners. It remains to be

By Sukriti Gupta, Sanchayaita Roy and Shashwat Chauhan (Reuters) -European shares closed lower on Friday, as losses in banks and healthcare stocks weighed at the end of a week marred by U.S. President Donald Trump's tariff announcements,