Donald Trump says serious negotiations are underway between the US and the EU on tariffs.

Both sides are hoping to work out a trade deal before the US President's self-imposed deadline of August 1st.

The bloc's trade chief Maros Sefcovic discussed the latest developments with his American counterparts yesterday.

It's believed the US would be willing to drop its tariff demands to 15 per cent on European goods.

The talks hold significant importance for the North West and the many pharmaceutical that are based in this region.

Earlier in the summer there was speculation that a number of redundancies were being offered by Abbott in Sligo with 70 staff across its plants in Sligo and Longford are said to be impacted.

President Trump says he would be willing to move from his previous threat of a 30 per cent tariff: