EU trade chief Maros Sefcovic said Thursday that reciprocity in tariffs should be made to work for both the bloc and Washington, after talks with his counterparts in US President Donald Trump's administration.

President Donald Trump’s shift in policy to reciprocal tariffs is a relief to markets, U.S. consumers and most trading partners.

In starting a process to impose reciprocal tariffs on American trading partners, the White House is sowing uncertainty and risking inflation.

An index of global shares was lower on Wednesday, pressured by choppy trading on Wall Street and a dip in European stocks, as U.S. President Donald Trump's latest tariff threats on auto, semiconductor and pharmaceutical imports injected a sense of caution into the markets.

Among the now-regular Trump tariff announcements is his plan for eventual “reciprocal tariffs”—a concept championed by the president and his loyal trade adviser Peter Navarro that would, if enacted, set U.

The European Union's top trade officials said that the bloc was interested in making mutually beneficial trade deals with President Trump, and was ready to discuss the potential for reducing or eliminating tariffs on motor vehicles and other goods.