The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,

European officials gave up on trying to avoid tariffs altogether and instead looked for the best agreement they could get.

EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

President Trump is seeking to raise federal revenue by imposing levies on goods from foreign nations. Here’s how the process works.

A federal appeals court will soon hear oral arguments in a major case challenging Trump's "reciprocal" tariffs.

Higher tariffs, or import taxes, on European goods mean sellers in the U.S. would have to either increase prices for consumers — risking loss of market share — or swallow the added cost in terms of lower profits. The higher tariffs are expected to hurt export earnings for European firms and slow the economy.

"More chips for China means fewer chips for the US," experts said, noting that "China’s biggest tech firms, including Tencent, ByteDance, and Alibaba," have spent $16 billion on bulk-ordered H20 chips over the past year.

On Monday morning, Trump said the baseline tariff rate for the world will be “in the range of 15 to 20% ... probably one of those two numbers.” “We’re going to be setting a tariff for essentially the rest of the world,