The chief executive of Volvo Cars urged the European Union to cut its 10% tariff on American-made cars, arguing that European automakers do not need protection from U.S. competitors, in an interview with Reuters on Thursday.

Volvo CEO Hakan Samuelsson urged the European Union to slash its auto tariffs on the US — an apparent bid to sway President Trump to lower his own hefty duties on foreign vehicles. The automaker, which is majority-owned by China’s Geely Holding, currently faces a steep 27.5% tariff on its imports.

President Donald Trump’s bizarre pivot from one extreme to the other in the Jeffrey Epstein fever swamps dominated the news in recent days, for understandable reasons. This was a

European trade ministers were hopeful for a negotiated trade deal after Trump announced 30% tariffs on the European Union.

But this shopping could cost consumers a little bit more this year. On Saturday, President Trump announced 30% tariffs against Mexico and the European Union beginning August 1 that could impact the price of many consumer goods. Some shoppers are already seeing higher clothing prices as a result of the tariffs instituted in April.

President Trump is threatening Mexico and the European Union, two of the largest U.S. trading partners, with 30% tariffs starting in August if they don't reach a trade deal with the U.S. CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means for U.

All but one of the 27 EU member countries voted to impose tariffs on specific U.S. products. The vote came before President Trump announced a 90-day pause on U.S. tariffs on goods from most countries.

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.

President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.

Leaders say it is imperative that the EU negotiate that percentage down by Aug. 1 to avoid "severe" consequences.