President Trump is reportedly pushing for higher blanket tariffs on imports from the European Union, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect. The Financial Times reported that Trump wants a minimum of a 15% to 20% tariff on EU goods as part of any deal.

The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.

Round 2 of Donald Trump vs the BRICS bloc began this week after the United States President announced an additional 10 per cent tariff on countries aligning with the group's "Anti-American policies".

President Trump has flagged that US tariffs on pharmaceutical imports are likely to kick in on Aug. 1, with duties on semiconductors also in line for implementation then too. “Probably at the end of the month,