European Union countries have expressed broad support for one round of 30% retaliatory tariffs if the United States does not reach a trade deal with the EU.

The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

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

Iranian and European diplomats have met in Istanbul in the latest drive to unpick the deadlock over Tehran’s nuclear program.

Chinese leader Xi Jinping urged the European Union to make “the right strategic choice” and enhance cooperation with China, while EU leaders called for a rebalancing of trade ties, as the two sides tackle deep-seated grievances at a tense summit in Beijing.

E.U. leaders are in Beijing to mark 50 years of diplomatic relations with China, but they have major disagreements over trade and Russia’s war against Ukraine.

The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

Goldman Sachs and J.P. Morgan downsized their expectations for further rate cuts by the European Central Bank a day after the central bank kept rates steady, pointing to a resilient economy and hopes that a European Union-U.