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 Union said on Saturday it was ready to retaliate to defend its interests if the United States pressed ahead with imposing a 30% tariff on European goods from August 1.

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 Commission President Ursula von der Leyen survived a no-confidence vote in the European Parliament on Thursday, brought by mainly far-right lawmakers who alleged she and her team undermined trust in the EU through unlawful actions.

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.

President Trump threatened a significant tariff hike on the European Union and Mexico, two of the largest U.S. trade partners, on Saturday. NBC News’ Yamiche Alcindor has more.

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.

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.