The FT reports that the US and EU have begun trade talks after recently exchanging negotiating documents that touch on tariffs, digital trade and investment.

The report says USTR Greer threatened the EU with reapplying 20% tariffs.

This is going to be a tough one as many European leaders are saying they will not accept a 10% floor or anything along the lines of what the UK agreed to.

There was talk about deals with Japan and South Korea this week but the former appears to have walked away from the table, according to a report today.

The EU trade commisssioner spoke with Greer on Thursday and said he hoped to meet net month in Paris.