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 European Commission proposed on Friday a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats said. The European Union and Britain have been pushing the Group of Seven nations to lower the cap for the last two months after a fall in oil futures made the current $60 a barrel level largely irrelevant.

Trump made the announcement on tariff for both EU and Mexico through two letters shared on social media. The move adds pressure on US allies to renegotiate trade terms before the new rates take effect on August 1.

The European Commission has been accused of rigging the selection process for the next European Data Protection supervisor.

The European Commission is expected to propose a floating Russian oil price cap this week as part of a new draft sanctions package in an attempt to overcome opposition from some member states, four EU diplomats said.

Makers of the most advanced artificial intelligence systems face obligations for transparency, copyright protection and public safety. The rules are not enforceable until next year.

European leaders are urging private business and equity funds to not be afraid to invest in rebuilding Ukraine now even as Russia accelerates its war.

Link-out fees collected from developers are a bargaining chip as Apple fights against the Digital Markets Act.

President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign

An alliance of smaller European telecoms companies has spoken out against EU plans for laxer regulation in the fixed network business, according to an open letter published on Thursday.