Economists had already downgraded growth for the European Union, and the new duties would hit industries there especially hard. Companies are looking for ways to blunt the impact.

The commercial relationship between the United States and the European Union, described by the European Commission as 'the most important trade relationship in the world,' is under significant strain due to President Donald Trump's tariff policy.

In response to the introduction of an additional 30% tariff starting August 1, Brussels has called on the White House to continue negotiations, while insisting it is 'ready to defend the interests of the European Union.