European Union and US negotiators are heading into another week of intensive talks, as they seek to clinch a trade deal by Aug. 1, when US President Donald Trump has threatened to hit most EU exports with 30% tariffs.

U.S. officials told the EU’s trade chief this past week that they expect President Trump to demand further concessions from the bloc to get an agreement, including a baseline tariff on most European goods that could be in the range of 15% or higher,

President Trump threatened to impose a 30 percent tariff on imports from Mexico and the European Union on August 1.

Treasury Secretary Scott Bessent joins 'Squawk Box' to discuss the latest developments on U.S. trade negotiations, impact of looming August 1 deadline, prospects of any trade deals, escalating feud between President Trump and Fed Chair Powell,