President Donald Trump imposed tariffs of 20% on the European Union as part of his “Liberation Day” tariff policy.

U.S. tech-billionaire Elon Musk said on Saturday he hoped in future to see complete freedom of trade between the United States and Europe, speaking days after U.S. President Donald Trump announced tariffs on trading partners.

Billionaire Elon Musk said Saturday he hoped in the future the United States and Europe could create “a very close, stronger partnership” and reach a “zero-tariff zone."

European Union firms will try to export goods via Northern Ireland in an attempt to get a reduced tariff rate when exporting to the US, a Nobel prize winning economist has suggested. US President Donald Trump has imposed a 10% tariff on UK goods but a 20% tariff on EU goods.

I'm David Westin, and this week we heard from special contributor Larry Summers of Harvard about the tariffs announced by President Trump and from Santander's Ana Botín about what Trump's policies could mean for Europe.

European Commission President Ursula von der Leyen described U.S. President Donald Trump's universal tariffs as a major blow to the world economy and said the European Union was prepared to respond with countermeasures if talks with Washington failed.

PARIS (Reuters) - The European Union should not respond to U.S. President Donald Trump's reciprocal tariffs with exactly the same counter-measures as it would impact EU consumers, French Finance Minister Eric Lombard said on Friday.

While the majority of European leaders were quick to condemn the US tariffs, Hungarian Foreign Minister Peter Szijjarto laid the blame squarely at the EU's feet. Hungary's leader, Viktor Orban, is widely seen as Trump's biggest ally in Europe.