European trade ministers were hopeful for a negotiated trade deal after Trump announced 30% tariffs on the European Union.

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

President Donald Trump is threatening to hit the European Union and Mexico with new 30% percent import taxes that will take effect Aug. 1 and he says he'll raise them even higher if any of the countries retaliate,