"Should the need arise the European Union will respond in three ways. First, under WTO rules we have the right to re-balance these measures and we stand ready to do so. Secondly, we will be ready with safeguard measures… And thirdly, we will seek dispute settlement consultants in the WTO in conjunction with other affected countries," Jean-Claude Juncker said.
The European official added that Washington's decision to impose tariffs was a "lose-lose" step.
The decision of the United States has already been widely criticized by a number of countries and officials around the world. On Wednesday, EU Trade Commissioner Cecilia Malmstrom said that the 28-nation bloc could consider the introduction of responsive measures against certain groups of US products. International Monetary Fund (IMF) Managing Director Christine Lagarde warned that, if implemented, US tariffs could lead to a trade war that would have grave macroeconomic consequences.