The European Commission, which coordinates EU trade policy, will propose to members late on Monday a list of U.S. products to hit with extra duties in response to Trump's steel and aluminium tariffs rather than the broader reciprocal levies.

The EU has enormous economic clout as the biggest single market in the world, but does not want to risk a backlash.

Economists tell Euronews Trump's rates are not in any way based on the tariffs imposed by the US' trading partners and therefore cannot be considered an equal measure. View on euronews

Washington: Elon Musk lashed out at Donald Trump’s top trade adviser over the US president’s sweeping tariffs, prompting Peter Navarro to tell Musk to stay in his “lane”, in a sign of growing tensions in the White House as financial markets dive and banks start to forecast a recession.

White House National Economic Council Director Kevin Hassett defended President Donald Trump's tariffs on Sunday.