“The European Union is very, very bad to us, they treat us very badly. They don’t take our cars, they don’t take our cars at all, they don’t take our farm products,” Trump said this week. “They are going to be in for tariffs… It’s the only way you’re going to get fairness,” he said.

U.S. President Donald Trump has promised to address a longstanding trade deficit with the European Union, saying he will reverse that by imposing tariffs or making the EU buy more U.S. oil and gas.

U.S. duties could nudge the European Union toward protectionist measures and away from free trade.

Mexico and the European Union are announcing a revamped agreement that they said would boost trade and investment, amid Trump's tariff threats.

President Donald Trump widened his tariff threats to include China and the European Union on his second day back in office after day one saw Canada and Mexico in his sights.