German Finance Minister Lars Klingbeil made clear in a meeting with his counterparts from the Group of Seven major economies on Friday that the global trade conflict must be ended quickly, he told reporters.

President Donald Trump’s bizarre pivot from one extreme to the other in the Jeffrey Epstein fever swamps dominated the news in recent days, for understandable reasons. This was a

European trade ministers were hopeful for a negotiated trade deal after Trump announced 30% tariffs on the European Union.

But this shopping could cost consumers a little bit more this year. On Saturday, President Trump announced 30% tariffs against Mexico and the European Union beginning August 1 that could impact the price of many consumer goods. Some shoppers are already seeing higher clothing prices as a result of the tariffs instituted in April.

President Trump is threatening Mexico and the European Union, two of the largest U.S. trading partners, with 30% tariffs starting in August if they don't reach a trade deal with the U.S. CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means for U.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.

The European Union is pushing to secure a trade deal with the U.S. ahead of President Donald Trump’s Aug.1 deadline.