Last year, the EU had approved retaliatory tariffs on €93 billion of US products but suspended their implementation after the two sides reached a trade pact.

Donald Trump threatened to impose a 10% tariff from February 1 on all goods sent to the US from eight European countries. That levy would be increased to 25% on June 1 'until such…

In addition to limiting trade in goods and services, the anti-coercion instrument could also target foreign direct investment and financial markets.