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.

European Commission President Ursula von der Leyen will meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework trade deal this weekend.

The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

China and the European Union have issued a joint call to action on climate change during a tense summit in Beijing.

European Commission President Ursula von der Leyen will meet President Trump in Scotland on Sunday to discuss a potential trade deal. CBS News business contributor Javier David has more.

"New Zealand is the furthest away from Europe, but at the same time, in all other respects, it's very close to Europe, both in terms of language, in attitude, in democracy, culture, and even listening to the parliament there today, it was very similar to the Parliaments across the European Union."

The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

Chinese leader Xi Jinping urged the European Union to make “the right strategic choice” and enhance cooperation with China, while EU leaders called for a rebalancing of trade ties, as the two sides tackle deep-seated grievances at a tense summit in Beijing.