Europe will respond to any tariffs imposed by President Donald Trump in a proportionate way, the European Union's commissioner for the economy told CNBC Wednesday. "If there is a need to defend our economic interests we will respond in a proportionate way,

US President Donald Trump pledged Tuesday to hit the European Union with tariffs, adding that a 10 percent duty on Chinese imports could also come as soon as February 1.

U.S. President Donald Trump on Tuesday vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports because fentanyl is being sent from China to the U.