The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1,

Updated April 09, 2025 at 18:10 PM ET. All member countries of the European Union except Hungary voted Wednesday in favor of proposals that would impose tariffs on specific U.S. products sold into ...

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

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.

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

With the Trump administration setting 15% as a floor for tariffs, companies and economists are warning of higher prices later this year.

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.

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.

In fact, the higher costs on imports has trickle-down consequences for Texas industries.