Shares in major European carmakers rose on Wednesday, tracking a steep rally in some of their Asian rivals, after Tokyo struck a trade deal with the United States, fuelling optimism for a similar agreement with Europe.

President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.

The agreement - including a 15% tariff on all imported Japanese goods, down from a proposed 25% - is the most significant of the string of trade deals the White House has reached ahead of a August 1 deadline for higher levies to kick in.

A looming 30% U.S. tariff on EU imports threatens to disrupt global aircraft deliveries, spike airline costs, and escalate transatlantic trade tensions.

President Donald Trump has announced a trade framework with Japan, placing a 15% tax on goods imported from that nation.

The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

President Trump’s threat to impose 30% tariffs on the European Union disrupted negotiations. From cars to wine, these are the industries on the line.

European shares fell on Tuesday, hit by mixed corporate earnings and anxiety over tariff negotiations between the U.S. and its trading partners, while the euro held steady.

Updated April 09, 2025 at 18:10 PM ET. All member countries of the European Union except Hungary voted Wednesday in favor of proposals that would impose tariffs on specific U.S. products sold into ...

April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.