The agreement under negotiation to settle a customs dispute between the European Union and the United States is only a few pages long, senior EU lawmaker Bernd Lange has said. The possible framework agreement is "a relatively limited paper,

The European Union is seeking to conclude a preliminary trade deal with the US this week that would allow it to lock in a 10% tariff rate beyond an Aug. 1 deadline as they negotiate a permanent agreement.

President Trump threatened to reimpose so-called reciprocal tariffs on the European Union, saying he is just days away from sending the 27-nation bloc a letter that would outline what tariffs it would have to pay on August 1.