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.

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.

European Union countries approved a package of retaliatory tariffs on U.S. goods that could start in August if no trade agreement is reached. The list covers more than $100 billion worth of annual U.S.

US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.

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

Volkswagen said Friday year-over-year operating profit fell by $1.84 billion in the second quarter as the German automaker navigates the effects of U.S. tariffs

Europe's largest car manufacturer Volkswagen is hoping investment commitments can help it negotiate further concessions on U.S. tariffs once Washington and the European Union strike a broad trade deal,

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.

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

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.”