President Trump said he plans to impose blanket levies of 15% to 20% on most trading partners that haven't yet received suggested tariff rates. That would be higher than the 10% baseline currently in effect.

Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

By Sukriti Gupta, Sanchayaita Roy and Shashwat Chauhan (Reuters) -European shares closed lower on Friday, as losses in banks and healthcare stocks weighed at the end of a week marred by U.S. President Donald Trump's tariff announcements,

Blunt letters dictating terms posted to social media and changes late in negotiations have left trading partners wondering what President Trump will do next.

US President Donald Trump speaks during a multilateral lunch with visiting African Leaders in the State Dining Room of the White House in Washington, DC, on July 9, 2025.

President Donald Trump has sent out tariff letters to seven smaller U.S. trading partners in his first batch of import tax announcements of the day.

The European Union may be nearing a trade agreement with the United States but is struggling to obtain immediate tariff relief and a commitment not to introduce new measures, the head of the European Parliament's trade committee said on Wednesday.

The EU remains hopeful it will strike a deal to avoid steep levies Trump has threatened on its exports to the US.