The European Union could hit the United States with counter-tariffs on 93 billion euros ($109 billion) worth of U.S. goods if the two sides fail to reach a trade deal by Washington's August 1 deadline for imposing import levies.

European Union countries have expressed broad support for one round of 30% retaliatory tariffs if the United States does not reach a trade deal with the EU.

President Donald Trump released two tariff letters on Saturday, imposing duties of 30% on products from Mexico and the European Union.