The European Union still wants a trade pact with the US, but is said to be readying its counterattack as President Trump plays hardball and makes a no-deal outcome more likely. EU member states are pushing for new and stringent measures to retaliate against US companies,

President Trump's threatened 30% tariffs on the EU might prompt some businesses to take another look at the U.K.

Commerce Secretary Howard Lutnick expressed confidence Sunday that the Trump administration will cut trade deals with key U.S. trading partners in the coming weeks — before steep tariffs kick in for dozens of countries.

President Trump is reportedly pushing for higher blanket tariffs on imports from the European Union, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect. The Financial Times reported that Trump wants a minimum of a 15% to 20% tariff on EU goods as part of any deal.

Trump has escalated his demands on the EU following weeks of negotiations over a possible framework deal, the Financial Times reported.

The central bank is expected to leave borrowing costs unchanged for the first time in a year Thursday. But that might prove to be a brief pause.

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European exporters say a 30% U.S. import tariff would drive prices unsustainably high and hammer their sales. While some manufacturers are shifting their supply chains stateside or elsewhere, not all businesses have the same flexibility — and can't easily replace the developed U.

U.S. President Donald Trump is pushing for a minimum tariff of 15% to 20% in any deal with the European Union, the Financial Times reported on Friday, adding that the administration is now looking at a reciprocal tariff rate that exceeds 10%,