In a last-minute effort to prevent a transatlantic trade war, European Commission President Ursula von der Leyen will meet with U.S. President Donald Trump this weekend in Scotland. The high-stakes discussion comes just days before a proposed 30% tariff on European Union imports is set to take effect on August 1.

Taking to social media platform X, von der Leyen confirmed the meeting and emphasized the importance of “keeping transatlantic trade relations strong.” Trump, upon arriving in Scotland on Friday evening, said, “We’ll see if we can make a deal,” and added there’s a “50/50 chance” of reaching an agreement — which he called “a lot.”

Sources familiar with the negotiations told CNBC that the current “base-case” deal would involve a reduced 15% tariff rather than the full 30% Trump initially threatened. The EU, meanwhile, has warned of countermeasures should no agreement be reached.

This meeting is seen as a critical turning point in U.S.-EU trade relations, with global investors and industries watching closely.