The EU on Tuesday said the sum of USD 11.2 billion demanded by the US in tariff counter-measures on a host of European products was exaggerated, as a simmering transatlantic trade row risked escalating.

"The EU is confident that the level of countermeasures on which the notice is based is greatly exaggerated," a European Commission source said, in response to the fresh US tariffs threatened in response to subsidies for Europe's plane-making giant Airbus.

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