President Donald Trump and EU chief Ursula von der Leyen meet Sunday in Scotland in a decisive push to resolve a months-long transatlantic trade standoff -- with the US leader putting the chances of a deal at one in two.

President Donald Trump sees a 50-50 chance, or perhaps less, that the U.S. and European Union will reach a trade agreement, he said on Friday, according to media reports, adding that Brussels wants to "make a deal very badly.

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

Trump's proposed 30% tariffs on EU imports could significantly increase olive oil costs for American consumers who rely heavily on Mediterranean suppliers.

German auto giant Volkswagen is feeling the effects of President Trump's tariff policy. An EU-US trade deal can't come soon enough for the Wolfsburg-based automaker.

Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”

With inflation creeping back into the US economy, it's as important as ever to have a firm grasp on Donald Trump's tariffs and what they mean.

Norwegian steel producers are reeling after the European Union (EU) made a surprise announcement. In a letter sent to countries within the European Economic Area (EEA), the EU revealed that it will introduce new tariffs targeting imports of ferroalloys—an essential material used in steel production.