The potential accord with the European Union, which would spare European goods the 50 percent tariffs Trump has threatened, is one of a few deals the White House could finalize this week.

The pause on the administration's import levies will expire July 9. European Union negotiators have given up on reaching a trade new agreement by then.

Against a ticking clock, President Donald Trump said Wednesday the United States has reached a trade agreement with Vietnam, pulling off the administration’s third significant deal ahead of a self-imposed July 9 deadline.