President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

Leaders say it is imperative that the EU negotiate that percentage down by Aug. 1 to avoid "severe" consequences.

The pause on many tariffs was supposed to end this week, but it didn't. Despite that, reports still indicate that tariffs have caused a notable recent spike in inflation.

Fears of a recession are mounting in the world's fourth-largest economy, after export to the US declined for the second month ...