President Trump said he was preparing to set unilateral tariff rates of up to 70% that would kick in Aug. 1, delaying the levies while putting pressure on global trade negotiations.The European Union will hold crunch talks with the U.

The U.S. and the European Union have not yet struck a trade deal with just days to go before Trump's tariff reprieve is set to end.

Ahead of his self-imposed deadline on reciprocal tariffs, US President Donald Trump has said that 12 countries will be getting letters Monday onwards detailing their tariff rates. It is yet unclear which twelve countries have been finalized by the US for new reciprocal tariff rates,