Trump says EU call to set up trade meetings is positive

US President Donald Trump on Tuesday said the EU's move to set up talks was positive and that he hoped Europe would "open up" to trade with the US even as he reiterated his threat to unilaterally impose trade terms if no agreement emerges.

"I have just been informed that the EU has called to quickly establish meeting dates. This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America," Trump wrote on his social media platform.

"Remember, I am empowered to “SET A DEAL” for Trade into the United States if we are unable to make a deal, or are treated unfairly," he added.

Trump's latest comments come after he backtracked over the weekend and dropped his threat on Friday to impose 50 percent tariffs on European Union imports as Wall Street opened higher Tuesday morning.

US and EU trade representatives had been due to hold talks on Monday as European policymakers gauge the bloc's companies plans for American investments.