The 27-country bloc faces a tariff rate of 30% on imports to the U.S. if no deal is struck by next Friday. The EU is also planning to raise levies on imports from the U.S. if a pa

President Donald Trump sees a 50-50 chance, or perhaps less, that the U.S. and European Union will reach a trade agreement, he said on Friday, according to media reports, adding that Brussels wants to "make a deal very badly.

With the Trump administration setting 15% as a floor for tariffs, companies and economists are warning of higher prices later this year.