Nearly every member of the European Union supports a plan to hit back against President Trump’s tariffs if no agreement is reached.

President Donald Trump is set to meet Sunday with European Commission President Ursula von der Leyen to continue talks on a trade deal. Ahead of that meeting, policy analysts say that any agreement on trade must include the removal of non-tariff regulations and digital service taxes that largely target U.

European Union countries have expressed broad support for one round of 30% retaliatory tariffs if the United States does not reach a trade deal with the EU.

The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova, as the European Union and the U.S. appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan.

European Union officials are set for a summit with China’s top leaders. China’s support of Russia and a long list of trade disputes are on the agenda.

Japan's trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight,

(Reuters) -Businesses making everything from chips to steel reported downbeat results on Wednesday, with U.S. President Donald Trump's trade war inflicting damage even as Japan's deal lifted stocks and hopes that Europe can clinch a similar agreement.