Shares of U.S. spirits distillers slid in late trading amid reports that President Trump is pushing for a 15%–20% baseline tariff on imports from the European Union. Faced with the possibility of reciprocal tariffs on American exports of wine,

The EU has reverted to offering the US tit-for-tat tariff reductions on cars, with negotiators abandoning the idea of a complex “netting mechanism” first proposed by German carmakers.

One of the European Union’s most reliable punching bags is shaped like a bottle of whiskey. The EU this week circulated to member states a list of products it could hit with tariffs if a trade deal is

President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

EU trade chief Maros Sefcovic will head to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

The International Monetary Fund has estimated the EU's own internal barriers to the free flow of activity are the equivalent of tariffs of 44% for goods and 110% for services. Mooted reforms such as creating freer cross-border capital markets have made little headway in more than a decade.

The European Union has decided to hold off on imposing retaliatory tariffs on U.S. goods that were set to begin Monday.

President Trump announced his team struck a trade deal with Indonesia on Tuesday that will see goods from the country face a 19% tariff. The announcement comes after Trump unveiled a new batch of letters to over 20 trade partners outlining tariffs on goods imported from their countries beginning in August.