Greece is biggest exporter of tinned peaches, 20% go to US

European automakers are storing thousands of cars at ports in Europe holding out hope that US President Donald Trump will eventually relent and lower, or perhaps even abandon, sweeping tariffs. However, this appears to be increasingly unlikely and vehicles may continue to pile up at ports.

President Donald Trump said he will impose a 30% tariff on Mexico due to his accusations of fentanyl coming across the border. The EU will also face a new tariff.

Tariffs—taxes placed on imported goods—are one of the oldest tools in the United States' economic policy arsenal, dating back to the 18th century. Recently they've returned to the spotlight in a big way.

BRIDGEWATER, N.J. (AP) — President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trade partners.

EU trade commissioner Maroš Šefčovič Maroš Šefčovič stated that the introduction of 30% tariffs on European imports would actually destroy transatlantic trade, The Guardian reports. The European Union is warning of the risk of a complete freeze in trade with the United States due to a new initiative by Donald Trump.