The European Union hopes to avert a damaging trade war with the U.S. over impending metals tariffs by prioritising negotiations rather than retaliatory countermeasures, EU officials signalled on Wednesday.

European leaders said they would respond firmly to higher levies on steel and aluminum, but they had yet to say what that retaliation would look like.

The European Union vowed a response to 25% tariffs President Donald Trump said the US will impose on steel and aluminum imports, escalating a potential trade dispute between transatlantic allies.

The European Commission said on Monday it would react to protect EU interests after U.S. President Donald Trump's announcement of impending metals tariffs, but will not respond until it has clarification of the measures.

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. A White House official confirmed that the measures would take effect on March 4.

The European Union hopes to avert a damaging trade war with the U.S. over impending metals tariffs by prioritising negotiations rather than retaliatory countermeasures, comments from officials signaled on Wednesday.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world The EU says it will respond to US President Donald Trump’s 25% tariffs on steel and aluminum imports with countermeasures.

European shares were largely unchanged on Tuesday after a record close in the previous session, with investors assessing the risks of an escalating trade war after U.S. President Donald Trump raised tariffs on metals.