U.S. President Donald Trump's tariffs threaten the American economy at least as much the European one, German Finance Minister Lars Klingbeil said on Wednesday, calling for a "fair deal" with the Americans.

After European Union leaders said they would keep negotiating instead of immediately retaliating against President Trump’s latest threat, businesses remain unable to develop long-term plans.

President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.

EU trade chief Maros Sefcovic will head to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

Futures data from IG suggests regional markets will start the week flat to lower, with London's FTSE 100 unchanged and both France's CAC 40 and Germany's DAX expected to open 0.2% lower. Italy's FTSE MIB is seen opening 0.35% higher.

BERLIN (Reuters) -U.S. President Donald Trump's tariffs threaten the American economy at least as much the European one, German Finance Minister Lars Klingbeil said on Wednesday, calling for a "fair deal" with the Americans. "Trump's tariffs have only losers," Klingbeil said.