Shares in some of the biggest European carmakers slumped on Monday after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concern over possible duties on EU imports too.

Here are some things to know about Trump’s actions, the counters from U.S. trading partners and what it means for American consumers.

French President Emmanuel Macron said on Monday that Russia's invasion of Ukraine and the policies of U.S. President Donald Trump were pushing Europe to take more responsibility for its own physical and economic security.

Happy to be on the sidelines, Russia's Kremlin says it's watching the 'tensions' Trump's tariffs are spreading.

President Trump’s threats are carrying more weight after his moves against Canada, Mexico and China. Europe has been preparing for the possibility of a trade war for months.

Sterling slid against the dollar but rose against the euro on Monday as the greenback rallied after the U.S. imposed tariffs on Canada, Mexico and China, while comments from President Donald Trump fuelled hopes Britain may be able to avoid levies.

While arriving into Maryland from Florida, Trump told the BBC that tariffs on EU goods imported into the US could happen "pretty soon". "They don't take our cars, they don't take our farm products, they take almost nothing and we take everything from them.

US President Donald Trump ramped up his tariff threats to the European Union while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.