US President Donald Trump and EU chief Ursula von der Leyen prepared to meet Sunday in Scotland in a push to resolve a months-long transatlantic trade standoff that is going down to the wire. Early Sunday,

If there is no deal and the US imposes 30 per cent tariffs, the EU has prepared counter-tariffs on US$109 billion of US goods.

President Donald Trump is set to meet with European Commission chief Ursula von der Leyen in Scotland to discuss trade. Both sides are seeking an agreement on tariff rates.

President Donald Trump sees a 50-50 chance, or perhaps less, that the U.S. and European Union will reach a trade agreement, he said on Friday, according to media reports, adding that Brussels wants to "make a deal very badly.

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

Trump's proposed 30% tariffs on EU imports could significantly increase olive oil costs for American consumers who rely heavily on Mediterranean suppliers.

The EU says the U.S. is resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached with U.S. by Aug. 1.

President Donald Trump and EU chief Ursula von der Leyen meet Sunday in Scotland in a decisive push to resolve a months-long transatlantic trade standoff.

Commerce Secretary Howard Lutnick joins 'Fox News Sunday' to weigh in on President Donald Trump's tariff plan, a potential EU deal and requirements for TikTok to remain in the U.S. through American ownership.