"The United States' working assumption is that the and Europe can make a trade deal,"  United States Commerce Secretary Wilbur Ross told Fox Business Network on Thursday and added that they hope to finalize a trade deal with the EU in 2020.

"We hope to reach a trade deal with the UK this year," Ross said. "The US is eager to cooperate with India but I doubt a trade deal will be reached in 2020."

Market reaction

The Euro Stoxx 50 Index failed to capitalize on these comments and was last down 0.3% on the day while Germany's DAX and the UK's FTSE were erasing 0.33% and 0.25%, respectively.