The European Commission says it presumes the United States will impose a 15% tariff on most EU exports from Friday.

The U.S. Constitution gives the power to impose taxes — including tariffs — to Congress. But lawmakers have gradually relinquished power over trade policy to the White House. And Trump has made the most of the power vacuum, raising the average U.S. tariff to more than 18%, highest since 1934, according to the Budget Lab at Yale University.

For months President Donald Trump has been slapping higher tariffs on practically every country’s exports to the United States, citing emergency economic powers. Now, just as he’s about to enact a new round of tariffs,

Following the announcement of Trump's expansive tariff policy on April 2, which he called "Liberation Day," the administration has claimed to have secured trade agreements with the European Union, the United Kingdom,