President Donald Trump on Friday said there is a “50-50 chance” the United States will reach a trade agreement with the European Union to reduce tariffs, even as EU diplomats have signalled greater optimism about striking a deal before the August 1 deadline.

President Donald Trump threatens a 30% tariff on imports from Mexico and the EU amid failed trade negotiations. Both regions decry the tariffs as unfair, vowing further talks. Trump imposes a range of tariffs,

"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.