The European Union is preparing “countermeasures” against the United States if the two sides cannot reach a deal after surprise U.S. tariffs on steel rattled global markets and complicated

The European Commission said on Saturday that Europe was prepared to retaliate against President Donald Trump's plan to double tariffs on imported steel and aluminum, raising the prospect of an escalating trade fight between two of the world's largest economic powers.

One official said that the president is unlikely to delay his initial 90-day pause on some of his highest rates.