Negotiations between the EU and the United States to strike a last-minute trade deal are "ongoing," European Commission President Ursula von der Leyen said on Thursday, with only eight days to go before new US tariffs on the bloc take effect.

European Union countries approved a proposal by the European Commission to potentially impose import tariffs on goods with a total trade volume of €93 billion ($109. 4 billion) if talks with the United States fail,

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.

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

Volvo CEO Hakan Samuelsson urged the European Union to slash its auto tariffs on the US — an apparent bid to sway President Trump to lower his own hefty duties on foreign vehicles. The automaker, which is majority-owned by China’s Geely Holding, currently faces a steep 27.5% tariff on its imports.