EU trade chief Maros Sefcovic headed to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

EU trade ministers have agreed that U.S. President Donald Trump’s 30% tariffs announced on the European Union are “absolutely unacceptable,” and they are studying a new set of countermeasures to respond to the move.

The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels

Analysts have kept their forecasts for prices in the European Union’s carbon market roughly steady with the spectre of tariffs from the United States and weak industrial output weighing on expectations.

The announcement comes as Trump has pushed through his tariff agenda by unveiling a new batch of letters to over 20 trade partners outlining tariffs on goods imported from their c

"The EU and China are broadly on a colliding trajectory in terms of their trade and industrial policy concerns," he told CNBC. Bones of contention include the challenge of China's overcapacity and trade diversion to Europe, Stec, who is also head of the Mercator Institute's Brussels office, explained.

Wall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled a more aggressive trade stance.