EU prefers to talk than fight with Washington over Trump's tariffs

The 27-nation bloc faces 258 import tariffs on steel and aluminium and cars and reciprocal” tariffs of 208 from Wednesday for almost all other goods

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European Union ministers broadly agreed on Monday to prioritise negotiations to remove tariffs imposed by President Donald Trump over retaliation even as it prepared a first set of targeted countermeasures.

The 27-nation bloc faces 25% import tariffs on steel and aluminium and cars and "reciprocal" tariffs of 20% from Wednesday for almost all other goods under Trump's policy to hit countries he says impose high barriers to US imports.

Ministers overseeing trade met in Luxembourg on Monday to debate the EU's response, as well as discuss relations with China. Many said the priority was to launch negotiations and avert an outright trade war.

"We need to remain calm and respond in a way that de-escalates. The stock markets right now show what will happen if we escalate straightaway. But we will be prepared to take countermeasures if needed to get the Americans at the table," Dutch Trade Minister Reinette Klever told reporters.

European Commission President Ursula von der Leyen told a press conference in Brussels that the EU stood ready to negotiate a "zero-for-zero" tariff pact for industrial goods.

Talks with Washington to date have proven difficult. EU Trade Commissioner Maros Sefcovic described his two-hour exchange with US counterparts on Friday as "frank" as he told them their tariffs were "damaging, unjustified".