The European Union and the United States are locked in high-stakes negotiations to avoid a damaging trade war, with President Trump threatening to impose tariffs of up to 30% on EU imports starting August 1. European Commission President Ursula von der Leyen is set to meet Trump in Scotland for last-ditch talks, as both sides scramble to reach a deal that could see 15% reciprocal tariffs instead. European industries are sounding the alarm over the potential economic impact, while the EU prepares massive retaliatory measures targeting US goods if no agreement is reached. The outcome will have significant consequences for global supply chains, consumer prices, and financial markets. With the deadline fast approaching, the world is watching to see if a transatlantic trade war can be averted.
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