EU Offers 'Zero-For-Zero Tariffs' To Trump Amid Pushback From France, Germany

US President Donald Trump said Monday the European Union's proposal for an exemption from tariffs on industrial products, including cars, is not enough to account for the transatlantic trade deficit.

"The European Union has been very, very bad to us, they don't take our cars, like Japan in that sense, they don't take our agricultural product. They don't take anything practically," Trump told reporters at the White House.

Last week, Trump announced a 20 percent tariff on European goods, in his all-out protectionist offensive, which is set to take effect April 9.