The European Union’s top trade negotiator has signaled the bloc will continue trying to reach a deal with the U.S. after President Donald Trump threatened a 30% tariff on goods from the bloc and Mexico over the weekend.

EU trade ministers are alarmed by Trump's new EU tariffs, but are trying to negotiate a deal that would help streamers avoid possible retaliation.

The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.