The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

EUROPEAN shares ended lower on Tuesday, dragged down by heavyweight financial and healthcare stocks as investors awaited news on a potential US-EU trade deal while assessing the latest US inflation data.

The European Union is still hoping for a rough outline of a deal, even after President Trump talked about sending the bloc a letter outlining tariffs that would be imposed Aug. 1.

The European Union and United States are approaching a good outcome for both sides in their trade talks, EU trade commissioner Maros Sefcovic said on Monday. "The feeling on our side was that we are very close to an agreement,

The European Union sent a group of trade officials to Washington on Tuesday, hoping to revive an outline trade agreement with the U.S. after President Trump's letter threatening 30% tariffs. EU trade

The president told reporters Indonesia had agreed to a 19 percent tariff rate on its exports to the U.S. The Indonesian government has yet to confirm the details of the deal.

Mexico is aiming for a U.S. trade agreement before the Aug. 1 deadline, while the European Union said it is ready to retaliate against any tariffs.

President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.