President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

The ministers met in Brussels following President Trump’s announcement of such hefty tariffs, which could have repercussions for governments, companies, and consumers on both sides of the Atlantic.

EU trade ministers are alarmed by Trump's new EU tariffs, but are trying to negotiate a deal that would help streamers avoid possible retaliation.