The European Union has announced an extension of its trade countermeasures suspension against the US until August 2025 as negotiations continue. President Trump's warning of a potential 30 per cent tariff has raised concerns,

President Donald Trump indicated he is open to more trade negotiations, including with the European Union, even as he insisted that his letters threatening new tariff rates are “the deals” for US trading partners.

The bloc’s trade commissioner says the two sides were close to a deal before the president last week threatened to impose a 30 percent levy.