Europe open to Trump tariffs talks but readies for trade war, considers targeting US tech firms

Scrambling to limit the "dire" consequences of sweeping new US tariffs, the EU on Thursday told President Donald Trump the door remained open for trade talks while readying for a fight should negotiations fail.

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Trump announced a 20 percent tariff for the European Union as part of a sweeping crackdown on imports to the United States that has fanned global trade war fears and sent markets tumbling.

EU chief Ursula von der Leyen called the levies a "major blow to the world economy", coming on top of tariffs on steel and aluminum imports as well as cars and auto parts that have already hit the European Union hard.

"The consequences will be dire for millions of people around the globe," she said in a pre-dawn address while travelling in Uzbekistan, warning of higher food, medicine and transport costs as well as inflation.

The European Commission president said Brussels was "preparing for further countermeasures," which France and Germany both suggested could include targeting US tech firms.

But she emphasised it was "not too late to address concerns through negotiations", aiming for a cool-headed response to the tariff threat facing the bloc.

"Let's move from confrontation to negotiation," von der Leyen said.