European trade ministers are meeting in Brussels on Monday, following U.S. President Donald Trump’s surprise announcement of 30% tariffs on the European Union. The EU is America’s biggest business partner and the world’s largest trading bloc.

Senior EU officials told the FT that they did not expect Trump to ultimately go through with his new threat of 30 per cent tariffs, which is being widely interpreted by Brussels as a bid by the US President to increase pressure on the bloc in the remaining time left for negotiations.