The European Union expects to find out on Monday whether President Trump will impose more tariffs, in a move that would have repercussions on both sides of the Atlantic.

Portuguese Finance Minister Joaquim Miranda Sarmento said he sees the European Union and the US reaching an agreement with tariffs potentially below 10% that would help keep trade flowing.

By Jeff Mason, Bart H. Meijer and David Brunnstrom WASHINGTON/BRUSSELS (Reuters) -U.S. President Donald Trump on Monday began telling trade partners – from powerhouse suppliers like Japan and South Korea to minor players – that sharply higher U.

The slide started after Trump posted letters on his social media platform, Truth Social, that he says he sent to Japanese and Korean officials threatening them with 25% tariffs on goods being imported to the U.S. beginning Aug. 1. The countries can still reach a deal with his administration before then that could avoid those rates.

President Trump said on Monday that he would subject imports from Japan and South Korea to new 25 percent tariffs that would take effect on Aug. 1, putting economic pressure on two U.S. allies as a deadline for making trade deals elapses this week.