"I'm not looking for a deal. I mean, we've set the deal. It's 50%. Again, when they build their plant here, there's no tariffs," said U.S. President Donald Trump. U.S. President Donald Trump announced on Friday via social media that he supports imposing a 50 percent tariff on imports from the European Union,

Bharat Ramamurti, former deputy director of the National Economic Council, talks with Jen Psaki about the number of Americans who will be hurt by the new Republican budget bill and why tariffs on European goods will make the economics for American manufacturers worse.

But it is a risky bet. Although trade talks between the US and the EU had been moving slowly, Trump’s threat to put 50 per cent tariffs on all imports from the bloc from June 1 has raised the economic and diplomatic stakes dramatically.

Returning U.S. manufacturing employment to a level that remotely resembles its historical peak will be an uphill battle,” the bank said this week.

Key Takeaways Forecasters expect the economic shockwave from President Donald Trump's trade wars to hit the economy soon, as reflected in "hard data" such as unemployment and inflation statistics.Some forecasts show inflation rising first,

Out East, a panic is brewing as tariffs loom. “It’s the toilet paper of March 2025,” one Hamptonite said. “It,” in this case, is pink wine.

Gold prices rose 2% on Friday and were headed for their best week in six, as investors sought the safe-haven asset amid renewed tariff threats from U.S. President Donald Trump and a weaker dollar. Spot gold gained 2% to $3,