The European Union is keen to partner with countries around the world and is "open for business," European Commission chief Ursula von der Leyen said Tuesday.

The European Union’s Commissioner for the Economy has confirmed retaliatory actions against Trump’s incoming tariffs on goods imported from the EU region. The top economy official said that the EU is ready to defend its economic interests and will respond proportionately.

The European Union has announced a proportional response to any tariffs imposed by U.S. President Donald Trump. EU Commissioner for the Economy Valdis Dombrovskis emphasizes that the Union is ready to defend its economic interests.

U.S. President Donald Trump has promised to address a longstanding trade deficit with the European Union, saying he will reverse that by imposing tariffs or making the EU buy more U.S. oil and gas.

President Donald Trump widened his tariff threats to include China and the European Union on his second day back in office after day one saw Canada and Mexico in his sights.