The critical question is whether US and China can strike a deal by the March 1 deadline because if they succeed, a cloud will be lifted off the world economy.
US steel producers complained imports of Chinese-made steel through other countries soared after anti-dumping charges were imposed.
US President Donald Trump met last week with Macron and Merkel but gave no indication of whether or not he planned to exempt the EU, which last year exported over USD 7.
Concerns were shared about the American spice industry who depend largely on countries such as India on the import of spices and are now fearing a retaliatory action from them.
The tariffs of 25 percent on imported steel and 10 percent on aluminum will come into effect in 15 days and will not apply to Canada and Mexico initially.