Trump has escalated his demands on the EU following weeks of negotiations over a possible framework deal, the Financial Times reported.

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.

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 bloc’s trade commissioner says the two sides were close to a deal before the president last week threatened to impose a 30 percent levy.

European trade ministers were hopeful for a negotiated trade deal after Trump announced 30% tariffs on the European Union.

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

European shares ended slightly lower on Monday, with tariff-sensitive auto stocks down after U.S. President Donald Trump's latest threat to impose steep tariffs on the European Union, though gains in financials and healthcare kept losses in check.

President Trump is threatening Mexico and the European Union, two of the largest U.S. trading partners, with 30% tariffs starting in August if they don't reach a trade deal with the U.S. CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means for U.

Trump has spent the past several days sending letters to world leaders about new tariffs the United States would be imposing on them.

President Donald Trump on Saturday announced 30 percent tariffs on all European goods entering the U.S., prompting pushback from European allies.

The S&P 500 and Nasdaq Composite ended little changed on Friday, overcoming a brief dip triggered by a Financial Times report indicating U.S. President Donald Trump was pushing for steep new tariffs on European Union products.