Trump has said he would hike the rate to 30% on August 1, a level EU officials said would wipe out whole chunks of transatlantic commerce.

US President Donald Trump put the odds of striking a trade deal with Europe to reduce the tariff rate on their imports at 50-50.

Negotiations are expected to continue as the two sides try to close remaining gaps ahead of Trump’s August 1 deadline, after which he would impose 30 per cent tariffs.