America’s largest trade partner is awaiting word on whether U.S. President Donald Trump will impose punishing tariffs on its goods.

European Union negotiators are close to finalizing a trade agreement with U.S. President Donald Trump, potentially resulting in higher tariffs than those applied to the UK. The temporary framework suggests a 10% 'reciprocal' tariff while negotiations proceed.

The European Union aims to swiftly secure a trade agreement with the United States to alleviate economic uncertainty caused by potential tariffs. Despite the U.S. extending the deadline to August 1, the EU is pushing for a deal this week,