President Trump’s threats are carrying more weight after his moves against Canada, Mexico and China. Europe has been preparing for the possibility of a trade war for months.

US President Donald Trump ramped up his tariff threats to the European Union while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.

The president’s threats to slap duties on goods imported from the European Union are part of a pattern of directing the harshest penalties at the United States’ closest allies.

"Tariffs are a negative in respect of economic development," Ireland's Taoiseach said as President Trump vows to place tariffs on the EU.

The European Union is preparing for a transatlantic trade fight, but US President Donald Trump’s decision to delay broad tariffs on Mexico and Canada this week has bolstered confidence in the bloc that it will be able to negotiate an acceptable outcome.

U.S. President Donald Trump has hinted that the European Union could be the next target in his ongoing tariff battle. After imposing steep tariffs on China, Mexico, and Canada, Trump now claims the EU has been unfairly benefiting at the expense of the U.

Donald Trump’s tariff threats dominated European Union meeting EU leaders' meeting: Bloc warns of tariff impact on Europe Donald Trump's threats of tariffs have dominated a European Union meeting. European Commission president Ursula von der Leyen says while having a working relationship with the US is vital - Europe won't passively accept economic penalties from Trump's administration.