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

European Union trade ministers will hold an unscheduled video conference on Wednesday to discuss the bloc's response to impending U.S. steel and aluminium tariffs, EU diplomats said on Tuesday. U.S. President Donald Trump signed proclamations late on Monday to raise tariffs on all steel and aluminium imports to 25% without exceptions or exemptions.

President Donald Trump has said he will announce a 25% import tax on all steel and aluminium entering the US, a move that will have the biggest impact in Canada. Trump also said that there would be an announcement later in the week about reciprocal tariffs on all countries that tax imports from the US,