The EU is ready to retaliate to safeguard its interests if the U.S. proceeds with imposing a threatened 30% tariff on European goods starting on August 1, European Commission President Ursula von der Leyen said on Saturday.

President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.

US President Donald Trump has announced that all imports from Canada will have a 35% tariff as of August 1. He sent a letter to the country’s president, Mark Carney, informing him of the new rate, which has also been posted on his Truth Social account.

Trump insiders maintain that it would make little sense — politically or from a policy standpoint — for the president to offer any further extensions on trade.

President Donald Trump threatened to double the baseline universal tariff to 20%, citing record stock gains to dispel fears that such a move would hammer the global economy. Even as financial markets barely budged on the news,