The European Union plans to safeguard its economic interests by imposing countermeasures in response to the U.S. tariffs, according to EU officials.

President Trump on Monday said he would be imposing 25% tariffs on all steel and aluminum imports into the United States. "This is a big deal, the beginning of making America rich again," Mr. Trump said as he signed the tariff orders in the Oval Office.

Mr Trump has made clear that he sees tariffs as a way to incentivise foreign investment in America and boost production at home. “It’s going to mean a lot of businesses are going to be opening in the United States,