Wall Street inched to another record after some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much President Trump's tariffs are hurting or helping them

Wall Street is hanging around its records following some mixed profit reports, as General Motors and other big U.S. companies give updates on how much President Donald Trump’s tariffs are hurting

The EU and United States are closing in on a trade deal that would impose 15% tariffs on European imports, similar to the agreement U.S. President Donald Trump struck with Japan this week, the Financial Times reported on Wednesday.

Who’s paying for Donald Trump’s tariffs? So far, American businesses and consumers. General Motors Co. was the latest US company to disclose how the levies are raising costs, with the automaker saying Tuesday that the duties dented profits by more than $1 billion as it chose to absorb the blow.

Analysts at Citi and at Deutsche Bank have looked into who is paying for the tariffs imposed by the Trump administration this year.