Europe

Facebook and Google could pay $8.8 billion in potential fines combined.

They all reject the U.S. view that the import tariffs are justified by U.S. national security concerns and are therefore exempt from the WTO rules.

German companies also face the prospect of possible extra levies -- Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum in March but the European Union has been granted exemptions until June 1.

European officials have said they looking for ways to help their companies escape the brunt of the U.S. sanctions.

Despite their decision to hold fire on Thursday, policymakers insisted that further rate increases are likely.

Martin Winterkorn is reportedly in Germany, where he is protected from extradition.

The U.S. punishment of Moscow is unparalleled, according to the Hermitage Capital CEO.

The U.S. needs its allies to deal with other national security issues, the Connecticut senator said.

"We agree that there is a problem of overcapacity in steel and aluminum. We are ready to work with the USA and other partners to deal with those issues, and to develop fast and appropriate solutions."

The three European leaders "agreed that the U.S. ought not to take any trade measures against the European Union," which is "resolved to defend its interests within the multilateral trade framework."

This comes as a deadline looms next month for President Donald Trump to decide on whether to restore U.S. economic sanctions on Tehran.

Greece will upgrade more than half of its American-made F-16 fighter planes.