The 27-country bloc faces a tariff rate of 30% on imports to the U.S. if no deal is struck by next Friday. The EU is also planning to raise levies on imports from the U.S. if a pa

President Donald Trump on Friday said there is a “50-50 chance” the United States will reach a trade agreement with the European Union to reduce tariffs, even as EU diplomats have signalled greater optimism about striking a deal before the August 1 deadline.

The European Union is negotiating an outline trade agreement with the Trump administration that would see the bloc accept 15% tariffs on most of its exports to the U.S., people familiar with the matter said.