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.

America’s largest trade partner, the European Union, is among the entities awaiting word Monday on whether U.S. President Donald Trump will impose punishing tariffs on their goods, a move economists have warned would have repercussions for companies and consumers on both sides of the Atlantic.

European shares were mixed on Monday, with investors alert for any trade-related headlines in the countdown to U.S. President Donald Trump's tariff deadline.

This follows last-minute talks by the EU, Japan, and South Korea to strike trade deals and avoid steep US tariffs.