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.

EU warns Trump’s proposed 30% tariffs would cripple transatlantic trade. Brussels prepares €72bn in retaliatory measures as negotiations enter final weeks.

The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.