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.

The enduring tariffs from President Trump's administration continue to shape global trade dynamics, affecting both the US and the European Union. Despite legal challenges and market uncertainties, these tariffs remain in place,

The EU is aiming for a July 9 deal, which would include a 10 percent baseline tariff. Trump has threatened to impose 50 percent tariffs if no deal is reached.

America is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs were due to kick in, Treasury Secretary Scott Bessent said.

The European Union still aims to reach a trade deal with the United States by July 9 after Commission President Ursula von der Leyen and U.S. President Donald Trump had a "good exchange", a Commission spokesperson said on Monday.