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.

He also announced 25 per cent tariffs on Malaysia and Kazakhstan, and 40 per cent on Laos and Myanmar. Read more at straitstimes.com. Read more at straitstimes.com.

The slide started after Trump posted letters on his social media platform, Truth Social, that he says he sent to Japanese and Korean officials threatening them with 25% tariffs on goods being imported to the U.S. beginning Aug. 1. The countries can still reach a deal with his administration before then that could avoid those rates.