TACO or tariffs? An August 1 deadline looms after the European Union became the latest of the top US trading partners to reach a deal with Trump.

Trump’s statement comes a day after he announced a trade deal with the EU, which would see a 15 per cent tariff imposed on most European goods being exported to the U.S.

U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy. Here is a timeline of the major developments: February 1 - Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China,

The president’s vision for reshaping global trade is falling into place, but he is embarking on an experiment that economists say could still produce damaging results.

Prime Minister Mark Carney said Monday that Canada's negotiations with the United States are in an "intense phase" after President Donald Trump achieved a critical agreement with the European Union days away from his tariff deadline.

The US president's remarks come after Canadian Prime Minister Mark Carney signalled earlier this week that Canada "will not accept a bad deal".

President Donald Trump arrived in Scotland on Friday to visit both his Turnberry and Aberdeen golf properties.

The agreements have been overshadowed by U.S. firms issuing warnings about how the tariffs will affect their bottom lines and prolong uncertainty in the U.S. economy.