A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.

US President Donald Trump and EU chief Ursula von der Leyen prepared to meet Sunday in Scotland in a push to resolve a months-long transatlantic trade standoff that is going

President Trump plans to impose 30% tariffs on EU imports starting August 1, prompting French dairy leaders to warn of 'disastrous' impacts on their exports.

Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”

European leaders and business groups said Trump's plan to put 30% tariffs on its goods would raise prices and in some cases act as an embargo on certain goods.

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 EU wine sector is "extremely concerned" about President Trump's threat of a 30% US tariff on goods from the bloc but remains optimistic a deal will be reached. Over the weekend, Trump shared a copy of a letter on Truth Social sent to EU Commission president Ursula von der Leyen threatening a 30% tariff on EU goods from 1 August.

The European Union could hit the United States with counter-tariffs on 93 billion euros ($109 billion) worth of U.S. goods if the two sides fail to reach a trade deal by Washington's August 1 deadline for imposing import levies.

President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1

President Donald Trump and EU chief Ursula von der Leyen meet Sunday in Scotland in a decisive push to resolve a months-long transatlantic trade standoff.