President Donald Trump is likely to dust off a 1930 trade law largely forgotten for decades to back his new reciprocal U.S. tariffs that will match other countries' higher import taxes, trade and legal experts say.

European Union trade ministers will hold an unscheduled video conference on Wednesday to discuss the bloc's response to impending U.S. steel and aluminium tariffs, EU diplomats said on Tuesday. U.S. President Donald Trump signed proclamations late on Monday to raise tariffs on all steel and aluminium imports to 25% without exceptions or exemptions.

President Donald Trump’s desire to get even on countries by matching tariffs they have on American goods could come at a steep cost.