German Finance Minister Lars Klingbeil said on Sunday the European Union must take "decisive" measures against the United States if tariff negotiations fail to cool an escalating global trade war.

President Trump announced on social media that he is levying 30% tariffs against Mexico and the European Union. They are set to begin on August 1.

Trump's tariffs have companies scrambling as they navigate cost increases. Here are the companies that have talked about hiking prices.

A senior German politician said on Sunday the European Union and Washington could negotiate further and postpone higher import duties after U.S. President Donald Trump ramped up the trade war by threatening a hike in tariffs on the bloc.

The European Union is preparing for potential new tariffs from the U.S. amidst ongoing trade negotiations. President Trump has announced increased tariffs on several countries, generating significant revenue but risking price hikes for U.

Trump’s new tariffs spark global fallout as EU nears limited trade deal. Japan, South Korea, and BRICS push back amid rising economic tensions and market jitters ahead of August deadline.

The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.