The EU is prepared to take the necessary steps to safeguard its interests if the U.S. proceeds with imposing a 30% tariff on European goods starting Aug 1, European Commission President Ursula von der Leyen said on Saturday.

The European Commission responded to Trump's announcement in a written statement, saying it remains ready to reach an agreement, while also taking "necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures.

NEW YORK (Reuters) -Investors awaited tariff news between the U.S. and European Union on Friday that could add a potentially volatile development to the end of a week in which President Donald Trump reignited his global trade war.

The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.