The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US.

Trading updates and corporate earnings from some of Europe’s auto giants show the extent to which Trump’s tariffs have started to take their toll.

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.

The U.K. and Germany are leading a NATO meeting Monday to discuss sending weapons to Ukraine. British and German defense officials are hosting the virtual talks, joined by U.S. and NATO leaders.

Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.

What happened: More than 230,000 files related to the assassination of Martin Luther King Jr. were released today after Trump ordered their declassification in January. Trump officials have been accused of defying a third of court orders.

President Trump threatens to raise tariffs, claiming the European Union won't buy U.S. cars or food — but 2024 trade data shows otherwise.