The European Union (EU) has said it will “respond firmly” if US President Donald Trump imposes tariffs on the bloc, Bloomberg reports.

The EU will respond firmly to any trading partner that unfairly or arbitrarily imposes tariffs on EU goods. There is a lot at stake, a European Commission official told Bloomberg.

According to the official, the 27-member bloc is not aware of any additional tariffs on EU goods at this phase.

Bloomberg's interlocutor noted that the imposing of tariffs is harmful for all parties, and expressed regret over Trump's decision to impose tariffs on Canada, Mexico, and China.