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

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.