The tariff drama arrives just days after Trump struck a similar 15% tariff agreement with Japan, signaling a potential shift in how his administration plans to handle trade policy going forward.

The European Union plans to quickly hit the US with 30% tariffs on some €100 billion ($117 billion) worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug.

The EU and United States are closing in on a trade deal that would impose 15% tariffs on European imports, similar to the agreement U.S. President Donald Trump struck with Japan this week, the Financial Times reported on Wednesday.

As the Aug. 1 deadline for tariff agreements approach, lawyers and political consultants caution that trade fights are likely ahead.

U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.

The agreement will impose tariffs of 15 percent on Japanese goods, down from a threatened 25 percent. Trump said Japan would also invest $550 billion in the U.S.