The deal, announced Sunday by President Trump and European Commission President Ursula von der Leyen, imposes a 15% U.S. tariff on most EU imports, while American goods exported to the union's 27 member countries will face no tariffs. Previously, U.S. exports to the EU faced an average tariff of roughly 1%, according to Goldman Sachs analysts.

President Donald Trump struck a new trade deal with the European Union on Sunday, allowing the EU to avoid a 30% tariff rate that was scheduled to begin on Aug. 1. Trump met with European Commission President Ursula von der Leyen over the weekend and discussed the new trade deal,

General Motors is exposed to billions in costs from the trade war. The residents of Oshawa are already paying the price.

Prime Minister Mark Carney said Canada is still deep in talks with the U.S., even though President Trump dismissed Canada, saying the U.S was not focused on it and may not reach an agreement. On Monday,

Dozens of economies including India, Canada and Mexico face threats of higher tariffs Friday if they fail to strike deals with Washington. - Global tariffs - US "reciprocal" tariffs -- imposed under legally contentious emergency powers -- are due to jump from 10 percent to various steeper levels for a list of dozens of economies come August 1,

Talks between Canada and the United States on a trade deal are at an intense phase, Prime Minister Mark Carney told reporters on Monday, reiterating that an agreement without any tariffs at all was unlikely.

President Trump and European Commission President Ursula von der Leyen announced Sunday that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.

Major changes are coming to U.S. grocery prices this March. Mexican and Canadian imports face 25% tariffs, affecting fresh produce, meat, and common household items.