The U.S. has a fifty-fifty chance of striking a deal with the European Union that will result in lower tariff rates on imports, President Donald Trump told reporters Friday.

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

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.

US President Donald Trump said trade talks with Canada are not a focus for his administration right now, and instead of negotiating a deal he may decide to just leave existing import taxes in place.

It’s quiet ... a little too quiet,” writes Mark Haefele, chief investment officer of UBS Global Wealth Management.

Detroit Axle said Trump's new tariff policy is forcing it to shut a facility and cut jobs. Experts look for more companies to do the same.

PorterYachts teams with the Ben Hotel to offer luxury yacht experiences, with CEO Brian Blouin stating that recent tariffs haven't affected charter business.

Chemical products companies in Brazil, which exported $2.4 billion to the U.S. last year, face a slew of contract cancellations as President Donald Trump has threatened a new 50% tariff on the South American nation's exports from August 1.

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