The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats, Reuters reported. An increasing number of EU members, including Germany, are now considering using wide-ranging "anti-coercion" measures which would let the bloc target U.S. services and other sectors in the absence of a deal, diplomats say.

The European Union agreed to impose its toughest sanctions on Russia since its large-scale invasion of Ukraine, blocking attempts to revive the Nord Stream gas pipelines, lowering a price cap for Russian oil sales and hitting banks from third countries in a move that could exacerbate tensions with China, the Wall Street Journal reported. The sanctions package comes as President Trump has started increasing pressure on the Kremlin after months of seeking a peace deal between Ukraine and Russia. The White House now appears closer to the European view that the Kremlin won’t end the war.

The European Union began proceedings against Spain over its intervention in banking mergers after the government blocked the legal combination of BBVA BBVA 0.59%increase; green up pointing triangle and Sabadell SAB 0.24%increase; green up pointing triangle for at least three years, the Wall Street Journal reported.

Europe’s exports to the U.S. fell for the second consecutive month in May after a first-quarter boom, but remained higher than a year earlier, a sign of resilience that will be tested as higher tariffs look set to become a settled feature of trans-Atlantic trade, the Wall Street Journal reported. Exports to the U.S. from the European Union edged down to 46.2 billion euros, or around $53.6 billion, in May from 47.7 billion euros a month earlier, statistics agency Eurostat said Wednesday. Overall exports fell 0.8%, with the EU’s overall trade surplus rising to 13.4 billion euros.

President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January, CNN.com reported. “The United States of America has agreed to continue working with the European Union, despite having one of our largest Trade Deficits with you.

The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, Bloomberg News reported. The contacts with nations including Canada and Japan could include the potential for coordination. The move comes as talks between the EU and the US have dragged on and continue to be stuck on several issues, including cars and tariff rates on agriculture.

The European Union wants immediate relief from tariffs in key sectors as part of any trade deal with the United States due by a July 9 deadline, but the bloc expects even a best-case deal to include a degree of asymmetry, EU diplomats told Reuters. The European Commission, which coordinates EU trade policy, is pushing three key points in Washington this week even as it accepts the U.S. baseline tariff of 10% as unavoidable. Both sides are working towards an agreement in principle, with the final details to be ironed out later.

The European Union is considering lowering tariffs on a range of U.S. imports in a bid to clinch a speedy trade deal with President Trump, the Wall Street Journal reported. EU leaders are set to debate how much they are willing to sacrifice to win over Trump at a meeting in Brussels on Thursday evening. Other concessions under consideration include lowering nontariff barriers, buying more American products including liquefied natural gas, and offering to cooperate with the U.S. to tackle its economic concerns about China.

The European Union plans to impose retaliatory tariffs on US imports, including on Boeing Co. (BA) aircraft, if President Donald Trump puts a baseline levy on the bloc’s goods as many expect, Bloomberg News reported. EU officials expect the US to keep some duties in place, even after trade negotiations are concluded. Until now, the European Commission, which handles trade matters for the EU, hasn’t indicated if that would trigger retaliation from the bloc.