Senior EU officials told the FT that they did not expect Trump to ultimately go through with his new threat of 30 per cent tariffs, which is being widely interpreted by Brussels as a bid by the US President to increase pressure on the bloc in the remaining time left for negotiations.

The European Union has decided to hold off on imposing retaliatory tariffs on U.S. goods that were set to begin Monday

The European Union will delay the implementation of its trade countermeasures against the United States from Monday until early August to allow more time to negotiate a deal.