european union, Trump and Trade Deal
Digest more
17m
Cryptopolitan on MSNTrump's tariffs bleed Europe's biggest names of hundreds of millions of euros
European companies are racking up massive losses as President Donald Trump pushes forward with 30% tariffs on everything shipped to the U.S. from the European Union starting August 1. These penalties are already crushing bottom lines,
Any reprieve from Trump’s trade war, which is weighing on profits and reordering supply chains, would be welcome news for the industry.
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
President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday. Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
Hungary's populist prime minister has spent years building a close political relationship with U.S. President Donald Trump and aligning himself with the MAGA movement. But despite Viktor Orbán's success in gaining favor with the culturally conservative and nationalist wing of Trump's administration,
US President Donald Trump suggested that he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising.
President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.