The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1,

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.

The European Union could hit the United States with counter-tariffs on 93 billion euros ($109 billion) worth of U.S. goods if the two sides fail to reach a trade deal by Washington's August 1 deadline for imposing import levies.

United States and European officials signaled progress in tariff talks Wednesday, after US President Donald Trump announced a pact with Japan and China said its vice premier would attend bilateral negotiations next week.

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.

The European Union will merge two packages of potential tariffs against the U.S. so that both are ready to take effect in early August if no deal has been reached with the Trump administration. The combined list will need approval from EU member states and could take effect as soon as Aug.

President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.

The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

Trump’s tariffs continue to affect markets and corporate earnings. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

As the tariff pause ends, the Trump administration should pivot to a more targeted and strategic policy that minimizes domestic harm.