After months of intensive talks and shuttle diplomacy, a trade agreement between the European Union and the US now rests mostly on Donald Trump.

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.

This week's U.S. trade agreement with Japan could provide a framework for a pact with the European Union, experts say.

The EU says its negotiators are working "might and main" on a deal, but the decision rests with US President Trump.

President Donald Trump is set to meet Sunday with European Commission President Ursula von der Leyen to continue talks on a trade deal. Ahead of that meeting, policy analysts say that any agreement on trade must include the removal of non-tariff regulations and digital service taxes that largely target U.

In the tariff dispute with the European Union, US President Donald Trump currently sees the chances of reaching an agreement at around 50%. "I would say that we have a 50-50 chance, maybe less than that,

European shares closed lower on Friday, as investors assessed mixed corporate earnings while awaiting updates on a framework of an EU-U.S. trade deal that officials said could be reached as early as this weekend.

TOKYO/SEOUL (Reuters) -Shares of Japanese, South Korean and European automakers surged on Wednesday after U.S. President Donald Trump agreed to a trade deal with Tokyo that included reducing tariffs on Japanese auto imports to 15%, a move that stoked optimism about a similar agreement for Seoul and Brussels.