French Foreign Minister Jean-Noel Barrot said on Monday, the European Union (EU) will respond to US President Donald Trump's latest tariffs announcement.

Key quotes

“France and its European partners should not hesitate to defend their interests in the face of the US tariff threats.”

“The European Commission will decide on the sectors that will be affected by a response.”

"It (the Commission) is ready to push the trigger when the time has come. Now this time has come. It is in no-one's interest to start a commercial war with the European Union.”

Market reaction

At the time of writing, EUR/USD sheds 0.10% on the day to trade at around 1.0315.