Brussels negotiators hope that by agreeing to a 10% US tariff on all European Union exports, they can avoid higher tariffs on cars, medicines, and electronics, according to a report in German newspaper Handelsblatt on Monday.

Donald Trump continues to ramp up tariff rates even as they face pushback in court. Here's what it will mean for you and your cost of living.

Canada and China have reached a diplomatic detente, after years of testy relations and with President Trump targeting both countries with hefty tariffs. Prime Minister Mark Carney said a call he held with Chinese Premier Li Qiang marks the start of “recalibrating the relationship with China.

People couldn’t import. Some people literally did not have the money to pay the import tariff.” The direct assessment by Marcus Noland of the Peterson Institute for International Economics conveys the extent of harm caused by the US’s “Liberation Day” tariff increase this April a move that sent shockwaves across global trade chains and delivery

What's happening: The U.S. government is imposing tariffs up to 25% on key goods from Mexico and Canada. Goods from China were temporarily rolled back from 145% to 30% as of May 14, 2025, for a span of 90 days. On June 11, President Donald Trump said the U.S. and China reached an agreement, with tariffs on Chinese imports set at 55%.

In return, Trump said, the U.S. will stop efforts to revoke the visas of Chinese nationals on U.S. college campuses.

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Here are all the tariffs, counter-tariffs, dealmaking, and deal-breaking between the world’s two biggest economies.

The Trump administration is “highly likely” to extend next month’s deadline for countries to agree one-for-one trade deals — so long as they are engaged in “good-faith negotiations,” Treasury Secretary Scott Bessent told lawmakers Wednesday.

In 2024 Canada shipped two-thirds of its total canola seed exports to China, and 95% of total canola oil exports of 3.5 million tons to the U.S. But Canada's wheat exports were "highly diversified," the U.S. Department of Agriculture noted.