America’s largest trade partner is awaiting word on whether U.S. President Donald Trump will impose punishing tariffs on its goods.

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.

EU and US negotiators met over the weekend to secure trade deals that would help Europe avoid Trump's tariffs.The United States is warning its trading partners to negotiate new deals or face higher import taxes by August 1,

The United States, under President Trump, is finalizing several trade agreements and will raise tariffs by August 1. Key trading partners, including the EU and India, are negotiating to reach deals, while Trump's strategy has caused global economic shifts,

President Trump's pause on sweeping global tariffs ends July 9, and there could be significant impacts for Michigan's manufacturing-heavy economy.

(Reuters) -European shares edged lower on Friday, as investors weighed uncertainty over U.S. trade deals, with the July 9 deadline fast approaching. The pan-European STOXX 600 index fell 0.4% to 541.61 points, as of 0704 GMT, and was on track to log a weekly decline. Other major regional indexes also traded lower.