The bloc’s trade commissioner says two sides were close to a deal before the president last week threatened to impose a 30 percent levy.

Stocks were mixed in early trading on Monday after President Donald Trump over the weekend issued 30% tariff s on the European Union and Mexico, rekindling tensions with two of the largest U.S. trade partners and threatening to raise consumer prices.

European trade ministers are meeting in Brussels after U.S. President Donald Trump announced 30% tariffs on the European Union.