Investors remained on edge Friday as President Donald Trump prepared new tariffs targeting the European Union, escalating global trade tensions. The EU, already reeling from months of stalled trade talks,

The European Union is preparing for a letter from U.S. President Trump regarding planned tariffs, as trade tensions rise. Despite talks for a trade agreement, EU's challenges in negotiations highlight divisions within its members.

China has imposed anti-dumping duties on European brandy, most notably cognac produced in France. The tariffs announced Friday will range from 27.7% to 34.9% and take effect on Saturday.