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 EU is prepared to take the necessary steps to safeguard its interests if the U.S. proceeds with imposing a 30% tariff on European goods starting Aug 1, European Commission President Ursula von der Leyen said on Saturday.

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.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

The EU is ready to retaliate to safeguard its interests if the U.S. proceeds with imposing a threatened 30% tariff on European goods starting on August 1, European Commission President Ursula von der Leyen said on Saturday.

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 that’s upended global trade since he retook office in January.

Mexico did not face a new tariff on April 2, the day of Trump's so-called "Liberation Day" tariff rollout. There remains a 25% tariff on non-USMCA-compliant goods from Canada and Mexico, as well as a 50% tariff on steel, aluminum and derivative products.

TikTok is facing a fresh European Union privacy investigation into user data transferred to China. The Irish Data Protection Commission opened the inquiry as a follow up to a previous investigation that ended earlier this year with a 530 million euro fine.