It comes as US President Donald Trump threatens to impose 30% tariffs on imports from the European Union and Mexico.

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 United States is threatening 30 percent tariffs on EU goods, risking a trade war as Brussels readies $84 billion in potential countermeasures. Talks continue amid fears of economic fallout and efforts to secure new trade deals worldwide.

BRUSSELS: The European Union (EU)'s top trade negotiator Maros Sefcovic is jetting to Washington on Wednesday (Jul 16) for talks with his United States counterparts as the bloc renews its push to sett

The 30% tariff on European goods threatened by U.S. President Donald Trump would, if implemented, be a game-changer for Europe, wiping out whole chunks of transatlantic commerce and forcing a rethink of its export-led economic model.

The European Union has finalized a second list of countermeasures to target U.S. goods worth $84 billion, including Boeing Co. aircraft, automobiles and bourbon, if it decides to retaliate against Donald Trump's tariff policy.

If you can't jet set off to Europe this summer, visit one of these five U.S. destinations for a similar ambience.

The European Commission is targeting 72 billion euros ($84.1 billion) worth of U.S. goods - from Boeing aircraft and bourbon whiskey to cars - for possible tariffs if trade talks with Washington fail.

The European Union will delay the implementation of its trade countermeasures against the United States from Monday until early August to allow more time to negotiate a deal.