As President Donald Trump began issuing letters slapping tariffs on over a dozen countries, Germany warned that the European Union is ready to retaliate against the U.S. in case a fair deal is not reached.

The European Union said it was working on sealing a trade deal with the United States by the end of the month, while U.S. President Donald Trump promised that he would deliver further tariff notices on unnamed countries on Wednesday.

EU negotiators are closing in on a trade deal with Donald Trump that would cement higher tariffs than those granted to the UK, a Brexit dividend that has rattled some European capitals. Brussels is ready to sign a temporary “framework” agreement that sets the US president’s “reciprocal” tariffs at 10 per cent while talks continue,