Nearly every member of the European Union supports a plan to hit back against President Trump’s tariffs if no agreement is reached.

Investors are hopeful a potential trade deal between the U.S. and European Union could bring more certainty to markets ahead of next Friday's tariffs deadline.

President Donald Trump is set to meet Sunday with European Commission President Ursula von der Leyen to continue talks on a trade deal. Ahead of that meeting, policy analysts say that any agreement on trade must include the removal of non-tariff regulations and digital service taxes that largely target U.

Japan's trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight,

The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova, as the European Union and the U.S. appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan.