Critics of the proposed tariffs say the policy could lead to higher prices for U.S. consumers.
That leaves Asia and Europe having to quickly consider ways to mitigate the future impact of export tariffs, and whether to retaliate or to try to negotiate a get-out deal.
But economists also say that the EU could try to use the carrot instead of the stick with the U.S., suggesting there are three other ways Europe might try to stop, limit or avoid Trump's likely tariff policy altogether.
German Chancellor Angela Merkel deliberates with U.S. President Donald Trump during the G-7 summit in Canada on June 9, 2018.
Jesco Denzel | Bundesregierung | Getty ImagesWhether there Europe can reach consensus on how or whether to do a deal with Trump is debateable, however.
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