European trade ministers are meeting in Brussels on Monday, following U.S. President Donald Trump’s surprise announcement of 30% tariffs on the European Union. The EU is America’s biggest business partner and the world’s largest trading bloc.

The EU says the U.S. is resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached with U.S. by Aug. 1.

U.S. officials have informed the European Union that President Donald Trump may demand a 15% or higher baseline tariff on most European goods as part of a new trade agreement, according to The Wall Street Journal.