The European Union on Monday said it is preparing “countermeasures” against the United States after the Trump administration’s surprise tariffs on steel rattled global markets

The announcement Friday of a staggering 50% levy on steel imports stoked fear that big-ticket purchases could see major price increases.

The European Union said it is preparing “countermeasures” against the U.S. following President Donald Trump’s unexpected announcement that he would increase his tariffs on steel. EU Commission President Ursula von der Leyen and Trump last week agreed to “rapidly” begin on a trade deal.

Global economic growth is expected to take a hit, in part as a result of President Donald Trump’s tariffs, if major nations remain mired in unresolved trade disputes, the Organization for Economic Cooperation and Development said in a report released Tuesday.

We think the U.S. economy can handle either rate without falling into a recession,” Alan Wynne, global investment strategist at J.P. Morgan Private Bank, said in a recent cli

One official said that the president is unlikely to delay his initial 90-day pause on some of his highest rates.

US states and small businesses that won a ruling that most of President Donald Trump’s global tariffs are illegal want them blocked during the administration’s appeal, saying they’re suffering immediate harm from economic uncertainty around the levies.

Legal battles intensify over Trump's tariffs, with the administration appealing court decisions that challenge the use of IEEPA for economic policy enforcement.