The EU expects to find out today whether US president Donald Trump will impose punishing tariffs on America’s largest trade partner, in a move economists have warned would have repercussions for companies and consumers on both sides of the Atlantic.

Ursula von der Leyen, the European Commission president, reached out to European leaders over the weekend to get guidance on whether she should accept a deal with some higher tariffs, which many favour, or raise the pressure on the US. The commission leads the trade negotiations on behalf of the bloc.