President Donald Trump is set to meet with European Commission chief Ursula von der Leyen in Scotland to discuss trade. Both sides are seeking an agreement on tariff rates.

US President Donald Trump and EU chief Ursula von der Leyen prepared to meet Sunday in Scotland in a push to resolve a months-long transatlantic trade standoff that is going down to the wire. Early Sunday,

President Donald Trump sees a 50-50 chance, or perhaps less, that the U.S. and European Union will reach a trade agreement, he said on Friday, according to media reports, adding that Brussels wants to "make a deal very badly.

Trump's proposed 30% tariffs on EU imports could significantly increase olive oil costs for American consumers who rely heavily on Mediterranean suppliers.

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

President Donald Trump and EU chief Ursula von der Leyen meet Sunday in Scotland in a decisive push to resolve a months-long transatlantic trade standoff.

Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”

President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.