The European Commission said in a statement on Friday that it viewed U.S. President Donald Trump's proposed "reciprocal" trade policy as a step in the wrong direction. The Commission added that the EU would react firmly and immediately against unjustified barriers to free and fair trade,

The president signed a memorandum Thursday setting forth a process for imposing new duties on trade partners across the globe.

Trump calls it unfair that some countries apply higher tariffs to specific American goods than the U.S. applies back. A new executive order seeks to change that.