Trump had most recently threatened tariffs of 30% on imports from the European Union. But on Sunday, he met with the president of the European Commission, and they agreed to a lower level.

The South China Morning Post, a Hong Kong-based English-language newspaper, reported on Sunday that "Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday,

Trump has given the EU an Aug. 1 deadline to ink a new trade deal with him or else face 30% tariffs. The EU is a block of 27 trade countries, which, taken together, traded about $1.68 trillion

Commerce Secretary Howard Lutnick joins 'Fox News Sunday' to weigh in on President Donald Trump's tariff plan, a potential EU deal and requirements for TikTok to remain in the U.S. through American ownership.