For a smooth manifold N denote by E m (N ) the set of smooth isotopy classes of smooth embeddings N → R m . A description of the set E m (S p × S q ) was known only for p = q = 0 or for p = 0, m = q + 2 or for 2m ≥ 2(p + q) + max{p, q} + 4 (in terms of homotopy groups of spheres and Stiefel manifolds). For m ≥ 2p + q + 3 an abelian group structure on E m (S p × S q ) is introduced. We prove that this group andare 'isomorphic up to an extension problem'. Here λ U : E → π q (S m−p−q−1 ) is the linking coefficient defined on the subset E ⊂ E m (S q S p+q ) formed by isotopy classes of embeddings whose restriction to each component is unknotted.This result and its proof have corollaries which, under stronger dimension restrictions, more explicitly describe E m (S p × S q ) in terms of homotopy groups of spheres and Stiefel manifolds. The proof is based on relations between sets E m (N ) for different N and m, in particular, on a recent exact sequence of M. Skopenkov.