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

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.

EU and US negotiators met over the weekend to secure trade deals that would help Europe avoid Trump's tariffs.The United States is warning its trading partners to negotiate new deals or face higher import taxes by August 1,

President Donald Trump enacted sweeping tariff measures on the vast majority of U.S. trade partners earlier this year.

The United States, under President Trump, is finalizing several trade agreements and will raise tariffs by August 1. Key trading partners, including the EU and India, are negotiating to reach deals, while Trump's strategy has caused global economic shifts,

The U.S. and the European Union have not yet struck a trade deal with just days to go before Trump's tariff reprieve is set to end.