EU to start retaliating against US tariffs on Tuesday

The European Union will put in place duties mostly of 25% on a range of US imports from next Tuesday in response specifically to the US metals tariffs

The 27-nation bloc faces 25% import tariffs on steel and aluminium and cars. Picture: PA

The European Union will launch its first countermeasures against US president Donald Trump's tariffs next week, the bloc's members agreed on Wednesday, joining China and Canada in retaliating and escalating a global trade conflict.

The approval came on the day that Trump's "reciprocal" tariffs on the EU and dozens of countries took effect, including massive 104% duties on China, extending his tariff onslaught and spurring more widespread selling across financial markets.