President Donald Trump said he'll hit the European Union with new retaliatory tariffs during his meeting with Ireland's prime minister Micheál Martin.

European Commission President Ursula von der Leyen said as the United States is “applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” or about $28 billion.

Trump's tariff policies have rattled the stock market and raised fears of an economic slowdown, increased inflation and a global trade war.