America’s largest trade partner is awaiting word on whether U.S. President Donald Trump will impose punishing tariffs on its goods. Trump imposed a 20% import tax on all European Union products

The US has threatened to hit EU agricultural exports with 17 per cent tariffs in a twist to its trade conflict with Brussels, three people briefed on the discussions said.

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,