President Donald Trump told reporters at the Glasgow airport in Scotland on Friday that he will meet with the European Union on Sunday as the U.S. looks to strike a trade deal with them. He reiterated comments from earlier in the day that the U.

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.

With the Trump administration setting 15% as a floor for tariffs, companies and economists are warning of higher prices later this year.

The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

In the past week, the Trump folks struck deals with Japan, Indonesia and the Philippines — and may be on the verge of a deal with Europe.

A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.