President Trump said the U.S. is poised to inform many trading partners of unilateral tariff rates of up to 70%, putting global investors on the defensive with U.S. markets closed for July Fourth.

The U.S. and the European Union have not yet struck a trade deal with just days to go before Trump's tariff reprieve is set to end.

(Reuters) -European shares edged lower on Friday, as investors weighed uncertainty over U.S. trade deals, with the July 9 deadline fast approaching. The pan-European STOXX 600 index fell 0.4% to 541.61 points, as of 0704 GMT, and was on track to log a weekly decline. Other major regional indexes also traded lower.