President Donald Trump on Saturday announced 30 percent tariffs on all European goods entering the U.S., prompting pushback from European allies.

EU chief Ursula von der Leyen said the bloc was ready to take all "necessary" steps to safeguard its economic interests, after US President Donald Trump announced that he would impose 30% tariffs on all EU goods.

The EU plans to impose 30% tariffs on €100 billion of U.S. goods as retaliation if no trade deal is reached by Aug. 1, heightening uncertainty.

"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.

Italy's foreign minister warned that, while he hopes for successful negotiations, the EU will respond resolutely to Trump's latest tariff threat.

A growing number of European Union member states, including Germany, are considering using wide-ranging "anti-coercion" measures targeting U.S. services if the EU cannot reach a trade deal with U.S. President Donald Trump,

The European Union has delayed retaliatory tariffs on US imports, aiming to avoid escalation as trade talks with the Trump administration continue. EU ministers warn of strong countermeasures if 30% tariffs proceed on 1 August,

Most European markets took a hit as trading resumed in the wake of President Trump's latest tariff threats, and as the EU keeps hoping for a deal.

Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.