The European Commission responded to Trump's announcement in a written statement, saying it remains ready to reach an agreement, while also taking "necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

The EU remains hopeful it will strike a deal to avoid steep levies Trump has threatened on its exports to the US.

NEW YORK (Reuters) -Investors awaited tariff news between the U.S. and European Union on Friday that could add a potentially volatile development to the end of a week in which President Donald Trump reignited his global trade war.

The European Union may be nearing a trade agreement with the United States but is struggling to obtain immediate tariff relief and a commitment not to introduce new measures, the head of the European Parliament's trade committee said on Wednesday.