European Union officials will vet and vote on a list of retaliatory tariffs this week, while contemplating what comes next.

In weighing a response to Trump’s tariffs, the E.U. has sought consensus and a way to avoid escalation with the U.S., a critical partner in trade and security.

Billionaire Elon Musk says he has advised President Donald Trump to look for a “zero tariff situation” between the U.S. and Europe. Musk, who has served as one of Trump’s closest advisors since last year, made the comments during a video conference call with Italian politicians Saturday.

President Trump’s auto tariffs won’t just make buying a car more expensive. They would make simply owning a car more expensive, too. Levies on imported vehicles stand at 25%, and tariffs of the same size are planned for auto parts in early May.

Detroit's three automakers could bear billions in costs from President Donald Trump's 25% tariffs on imported vehicles.

The global economy appeared to be in open rebellion against President Donald Trump's tariffs as they took effect Wednesday. Business executives are warning of a potential recession caused by his policies,

President Donald Trump has launched tariff wars with nearly all of the United States’ trading partners. And there’s no end in sight.

The move is seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to one between the U.S. and China.