The European Union braced on Friday to receive a letter from U.S. President Donald Trump, outlining planned duties on his largest trade and investment partner after a broadening of his tariff war in recent days.

The European Union is awaiting clarity on the approach that President Donald Trump wants to take with respect to tariffs. According to a Reuters report, the EU is bracing for a tariff letter from the White House on Friday,

Shelving the plan could help EU persuade the U.S. to give it a more favorable trade deal and comes just two months after the Commission suggested it.

US stocks are little changed as investors shrug off more tariff threats from Trump. Investors await inflation data and earnings for direction.

President Trump said Monday that the U.S. will impose 100% tariffs on countries that do business with Russia if there is no peace deal to end the war in Ukraine within 50 days.