An escalating war of words between the EU and the U.S. first began when Trump announced plans to slap hefty tariffs on steel and aluminum imports. He said "very stupid" trade deals had allowed countries from all over the world to take advantage of the world's largest economy.
That prompted a firm response from the U.S.'s trading partners, as well as criticism from the International Monetary Fund (IMF) and the World Trade Organization (WTO).
"I'm suggesting that we stop playing tit-for-tat, that we get our blood pressure to go back down to normal (and) that we sit down at the table and find a way to resolve this issue," Fiat Chrysler CEO Sergio Marchionne said Tuesday.
"I don't think we have to escalate this into a full-blown trade war," he added.