EU vows to defend its interests against Trump trade threat
The European Union has warned that it will defend its interests if the US goes ahead with plans to impose tough trade sanctions against it.
European Commission spokesman Margaritis Schinas said on Tuesday that Brussels will take “appropriate measures” to defend its industry and stands ready to react swiftly in case EU exports are affected by any US sanctions.
The US Commerce Department has recommended imposing heavy tariffs on steel and aluminum imports from China, Russia and Europe.
In a British TV interview in office with ITV's Piers Morgan made during the World Economic Forum in Davos, Switzerland, US President Donald Trump described EU trade policies toward the US as "very, very unfair.”
“They’re not the only one, by the way. I could name many countries and places that do. But the European Union has been very, very unfair to the US. And I think it will turn out to be very much to their detriment," Trump said then.
Schinas, however, noted that the EU is not in a trade war with Washington and both sides would win if they played by the rules.
"We would be taking appropriate measures to defend EU industry, and we stand ready to react swiftly and appropriately in case our exports are affected by any restrictive trade measures from the United States," Schinas told a daily briefing.
Trump has repeatedly blamed unfair trade deals and abusive practices for the massive US trade deficit and the loss of high paying factory jobs.
The US runs a substantial trade deficit with the EU, importing over $93 billion more in goods and services than it exported to EU members in 2016, according to the US Department of Commerce. Germany itself accounted for more than two-thirds of the deficit.
The deficit with China stood at nearly $310 billion in 2016, with imports from Japan and Mexico also exceeding US exports, by $57 billion and $63 billion, respectively.
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