EU chief Ursula von der Leyen hopes negotiations with the U.S. will work—but is ready to unleash harsher measures if they don't.

Turning to the potential knock-on effect of a global trade war, von der Leyen said the EU “will not tolerate” Chinese goods hit by US tariffs being redirected to Europe, adding that Brussels would “take safeguards” if a new monitoring mechanism detected an increase in Chinese imports.

U.S President Donald Trump's dramatic decision to pause hefty tariffs on dozens of countries was an important step towards stabilising the global economy, European Commission President Ursula von der Leyen said on Thursday.