European stocks were poised to rise on Monday as a deal between the US and European Union appeared to head off the risk of a damaging transatlantic trade war.

"I think we have a good 50/50 chance. That's a lot," Trump said.

Ursula von der Leyen is set to meet with Trump on Sunday to try and clinch a trade deal for Europe that would likely see a 15% baseline tariff on most EU goods.