The European Union expects to find out on Monday whether President Trump will impose more tariffs, in a move that would have repercussions on both sides of the Atlantic.

The commercial relationship between the United States and the European Union, described by the European Commission as 'the most important trade relationship in the world,' is under significant strain due to President Donald Trump's tariff policy.

The pause on the administration's import levies will expire July 9. European Union negotiators have given up on reaching a trade new agreement by then.