EU trade chief Maros Sefcovic will head to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

After European Union leaders said they would keep negotiating instead of immediately retaliating against President Trump’s latest threat, businesses remain unable to develop long-term plans.

President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.

U.S. President Donald Trump's tariffs threaten the American economy at least as much the European one, German Finance Minister Lars Klingbeil said on Wednesday, calling for a "fair deal" with the Americans.

The European Union has finalized a second list of countermeasures to target U.S. goods worth $84 billion, including Boeing Co. aircraft, automobiles and bourbon, if it decides to retaliate against Donald Trump's tariff policy.

President Trump announced his team struck a trade deal with Indonesia on Tuesday that will see goods from the country face a 19% tariff. The announcement comes after Trump unveiled a new batch of letters to over 20 trade partners outlining tariffs on goods imported from their countries beginning in August.

Analysts have kept their forecasts for prices in the European Union’s carbon market roughly steady with the spectre of tariffs from the United States and weak industrial output weighing on expectations.