The European Union is pushing to secure a trade deal with the U.S. ahead of President Donald Trump's Aug. 1 deadline.

U.S. President Donald Trump is pushing for a minimum tariff of 15% to 20% in any deal with the European Union, the Financial Times reported on Friday, adding that the administration is now looking at a reciprocal tariff rate that exceeds 10%,

Donald Trump has decided to jack up tariffs on every single good coming from Europe, pushing for a baseline rate of 15% to 20% in the next trade deal, according to the Financial Times. This comes after multiple rounds of back-and-forth talks with Brussels that aimed to hold tariffs at 10%,