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Economists have long been warning of a tariff-driven boost to U.S. inflation. The next report on consumer prices will put their conviction to the test.

EU trade ministers agreed July 14 that U.S. President Donald Trump's announcement of 30% tariffs on the European Union was “absolutely unacceptable," and they are studying a new set of countermeasures to respond to the move.

The European Union will suspend retaliatory tariffs on U.S. goods scheduled to take effect July 14 in hopes of reaching a trade deal with the Trump administration by the end of the month.

President Donald Trump said he’s levying tariffs of 30% against the EU and Mexico starting Aug. 1, a move that could cause massive upheaval between the U.S. and two of its biggest trade partners.

People familiar with the negotiations cautioned that any potential deal could be upended by President Trump, who has yet to comment publicly on the arrangements under discussion.

India doesn’t expect to receive a tariff demand letter — unlike many other nations this week — and anticipates the trade arrangement will be announced through a statement.

The Treasury Department recorded $27 billion in customs-duties revenue for June, bringing fiscal year-to-date inflows from levies to $113 billion.

Brazilian President Luiz Inácio Lula da Silva said July 10 that he will impose retaliatory tariffs on the U.S. if President Donald Trump follows through on a pledge to boost import taxes by 50%.

President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries.

U.S. buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to products such as wiring, according to producers and analysts.