BUSINESS NOTEBOOK U.S. tariffs on European goods threaten to shake up the world’s largest trade relationship

FRANKFURT, Germany (AP) — America’s largest trade partner is awaiting word on whether U.S. President Donald Trump will impose punishing tariffs on its goods. Trump imposed a 20% import tax on all European Union products as part of a set of tariffs targeting countries with which the United States has a trade imbalance. He then threatened to increase the rate to 50%. A deadline for trade negotiations ends on Wednesday. Economists have warned that the U.S. and the EU failing to reach a deal would have repercussions for companies and consumers on both sides of the Atlantic. Everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals would become much more expensive in the U.S.