US President Donald Trump has threatened to impose a 17 percent tariff on European food and farm products, including key exports like Belgian chocolate, Irish butter, and Mediterranean olive oil, according to sources cited by the Financial Times. The warning was delivered during meetings in Washington with EU trade commissioner Maros Sefcovic and senior US officials.

Trump also announced plans to send letters to 12 countries warning of permanent tariffs of up to 70 percent after July 9, and is pushing over 60 nations to reach new trade deals within days.

If talks fail, the EU plans to impose retaliatory tariffs on US commodities like as Bourbon and Boeing airplanes. European Commission President Ursula von der Leyen acknowledged a full agreement may be difficult given the short period, but emphasized the necessity for a framework accord, especially for sectors like autos, which are presently facing significant US tariffs, Financial Times reported