Tariffs risk damaging far more than sales of whiskey and Champagne, the American Chamber of Commerce to the European Union says.

Mark Carney, Canada’s new prime minister, was greeted warmly in Europe on Monday during his first foreign visit as leader, in a stark contrast to the hostility channeled toward Canada by US President Donald Trump.

European shares were largely unchanged on Monday as investors started the new trading week with slight caution around the escalating trade war, while focus remained on the week's upcoming parliamentary vote on Germany's debt reform deal.