The European Commission has sought clarity from the United States after Donald Trump recommended putting a 50% tariff on EU imports from 1 June, with Brussels' and Washington's trade chiefs due to talk later.
The commission said that it would not comment on the tariff threat until after a call between European Trade Commissioner Maroš Šefčovič and US Trade Representative Jamieson Greer.
European stocks tumbled and the euro gave back some gains, while euro zone government bond yields fell sharply after Mr Trump's announcement.
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The European Union's trade chief said the 27-member bloc is committed to securing a trade deal with the US based on "respect" not "threats".
ReplyDeleteIt comes after US President Donald Trump threatened to slap a 50% tariff on all goods sent to the United States from the EU.
"The EU's fully engaged, committed to securing a deal that works for both," EU Trade Commissioner Maros Sefcovic said after a call with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.