The European Union and the U.S. are moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions, two European diplomats said on Wednesday, potentially moving President Donald Trump closer to another major trade agreement on the heels of the one he just unveiled with Japan.

The U.S. and EU have been locked in intense negotiations as the deadline looms for Trump to impose a 30 percent tariff on all imports from the bloc.

NBC News Business and Data Correspondent Brian Cheung joins Meet the Press NOW to report on a new trade deal between the U.S. and Japan and what other countries the Trump administration is eyeing agreements with.