The trade threats could reduce exports to the United States and dampen investment in Europe, dealing a blow to growth at a time when the continent is already facing a lackluster economy.

The Trump administration also highlighted a 2.5% tariff on ethanol imports that compares to an 18% tariff applied by Brazil. The White House said this resulted in the U.S. importing “over $200 million in ethanol from Brazil, while the U.S. exported only $52 million in ethanol to Brazil.”

The European Commission said on Friday it would react "firmly and immediately" against tariff increases resulting from U.S. President Donald Trump's proposed reciprocal trade policy, which it labelled unjustified and a step in the wrong direction.

Vice President JD Vance, Secretary of State Marco Rubio and a coalition of senators are meeting with Ukrainian President Volodymyr Zelenskyy today.

Vice President JD Vance and Secretary of State Marco Rubio will lead the U.S. delegation to the Munich Security Conference amid intense concern and uncertainty over the Trump administration’s foreign

Since the 1960s, tariffs — or import taxes — have emerged from negotiations between dozens of countries. Trump wants to seize the process. “Obviously, it disrupts the way that things have been done for a very long time,