WASHINGTON: Donald Trump said on Friday there was a 50 per cent chance of a trade deal with the European Union as the bloc`s chief Ursula von der Leyen announced a weekend meeting in Scotland with the US president.

In an attempt to slash his country`s trade deficits, Trump has vowed to hit dozens of countries with punitive tariff hikes if they do not hammer out a pact with Washington by Aug 1.

`I would say that we have a 50/50 chance, maybe less than that, but a 50/50 chance of making a deal with the EU, Trump told reporters before leaving the White House for a trip to Scotland.

His administration promised `90 deals in 90 days` as it delayed the imposition of higher duties in April, but has so far unveiled just five agreements, including with Britain, Japan and the Philippines.

The EU`s 27 countries have beenallowing the European Commission to focus on seeking a deal to avoid hefty US tariffs, with Trump threatening 30pc levies without an accord by month`s end.

Brussels and Washington appear to be inching towards a deal with a baseline 15pc US tariff on EU goods, and potential carve-outs for critical sectors.

But EU member states on Thursday backed a package of retaliation on $109 billion of US goods _ to kick in from Aug 7 if talks fall short.

Von der Leyen said she would meet Trump in Scotland this weekend to address the tariffs standoff.

`Following a good call with @POTUS (president of the US), we have agreed to meet in Scotland on Sunday to discuss transatlantic trade relations, and how we can keep them strong,` she wrote on X.

Trump claimed that most of the deals he was seeking had been completed.-AFP