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.

Portuguese Finance Minister Joaquim Miranda Sarmento said he sees the European Union and the US reaching an agreement with tariffs potentially below 10% that would help keep trade flowing.

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

U.S. President Donald Trump signed an executive order Monday extending the date on which so-called "reciprocal" tariffs will take effect to August 1. The previous deadline had been July 9. (Reporting by Christian Martinez;