By Philip Blenkinsop and Trevor Hunnicutt BRUSSELS/WASHINGTON (Reuters) -The European Union and the U.S. are moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions,

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

President Donald Trump has reportedly said that the "reciprocal" tariffs he plans to levy on trading partners would range between 15% and 50%, days after he struck a trade deal with Japan.

European Union countries approved a proposal by the European Commission to potentially impose import tariffs on goods with a total trade volume of €93 billion ($109. 4 billion) if talks with the United States fail,

This week, top European Union leaders are traveling to Beijing for a high-level summit which could set the tone for the relationship between the EU and China for years to come.On today’s Big Take Asia Podcast,

By Philip Blenkinsop and Trevor Hunnicutt BRUSSELS/WASHINGTON (Reuters) -The European Union and the U.S. are heading for a potential trade deal that includes a 15% U.S. baseline tariff on EU goods and possible exemptions,

The trade pact with Brussels will be similar to the one agreed with Japan earlier this week, according to The Wall Street Journal.

President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.