Trading partners from the European Union to Japan to Vietnam appear to be acceding to U.S. President Donald Trump's demands to accept higher costs in the form of high tariffs.

TACO or tariffs? An August 1 deadline looms after the European Union became the latest of the top US trading partners to reach a deal with Trump.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

U.S. tariff agreement sealed over the weekend has been described as a “dark day” for Europe and even a capitulation to American demands

The sharp increase in U.S. trade tariffs on the European Union will not trigger immediate sovereign rating cuts, but could compound existing pressures, Fitch and other agencies said on Tuesday, while Moody's warned of the effect on exporting firms.

Euro falls against dollar, with Trump's tariffs seen as slowing European growth

The U.S. and the European Union announced a new trade agreement framework over the weekend, setting a 15% tariff on most goods imported from the EU.

A new 15% tariff go into effect on imports to the U.S. from the European Union starting Friday. Last year, those same goods were taxed at about 1.2%. Former Rep. Max Rose, Staff Writer at The Atlantic Ashley Parker and Mark McKinnon,