The European Commission describes the trade between the U.S. and the EU as "the most important commercial relationship in the world.” The value of EU-U.S. trade in goods and services amounted to 1.7 trillion euros ($2 trillion) in 2024, or an average of 4.6 billion euros a day, according to EU statistics agency Eurostat.

The European Union expects to find out on Monday whether President Trump will impose more tariffs, in a move that would have repercussions on both sides of the Atlantic.

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,

The commercial relationship between the United States and the European Union, described by the European Commission as 'the most important trade relationship in the world,' is under significant strain due to President Donald Trump's tariff policy.

The enduring tariffs from President Trump's administration continue to shape global trade dynamics, affecting both the US and the European Union. Despite legal challenges and market uncertainties, these tariffs remain in place,