European officials need to manage diplomatic negotiations in a more volatile geopolitical environment, the commission president said in reference to a possible trade war between the bloc and the U.S.

She reiterated that the EU remains open and pragmatic in achieving its objectives but will resolutely defend its economic interests.

"We will always protect our own interests – however and whenever that is needed," Ursula von der Leyen said after Donald Trump warned tariffs against the EU would happen "pretty soon." View on euronew

We are ready to engage immediately,” Europe’s trade chief said. Trump has repeatedly complained about the US goods trade deficit with the 27-country EU.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Donald Trump’s threats to hit the EU with tariffs have left the bloc’s leaders scrambling at the prospect of a trade war with the US.