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1-min read

EU Hits Back at Donald Trump, Says Trade Wars 'Bad and Easy to Lose'

European Council President Donald Tusk also proposed that European Union leaders hold an emergency debate on the trade dispute at a summit in Brussels on March 22-23.

AFP

Updated:March 7, 2018, 8:05 PM IST
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EU Hits Back at Donald Trump, Says Trade Wars 'Bad and Easy to Lose'
File photo of an European Union flag. (Representative image from Reuters)
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Luxembourg: The EU's top official hit back on Wednesday at Donald Trump, saying "trade wars are bad and easy to lose" as the bloc prepared to retaliate against the US president's planned steel and aluminium tariffs. European Council President Donald Tusk also proposed that European Union leaders hold an emergency debate on the trade dispute at a summit in Brussels on March 22-23.

"President Trump has recently said and I quote, 'trade wars are good and easy to win,'" Tusk told a press conference in Luxembourg, flanked by Luxembourg Prime Minister Xavier Bettel. "But the truth is quite the opposite: Trade wars are bad and easy to lose," the former Polish premier said.

"For this reason I strongly believe that now is the time for politicians on both sides of the Atlantic to act responsibly." Tusk warned Trump's plans could lead to "a serious trade dispute" between Washington and the rest of the world involving the EU. Tusk proposed that an EU leaders summit later this month in Brussels hold "an extraordinary trade debate" over the possible "repercussions for our citizens and our businesses not to mention the global economy."

He said EU leaders should aim "to keep world trade alive and if necessary to protect Europeans against trade turbulences." Tusk added such measures include proportionate responses in line with World Trade Organization rules.

The European Commission, the 28-nation EU executive, warned Wednesday it would hit flagship US products including peanut butter, orange juice and bourbon whiskey with counter measures if Trump goes ahead with the metal tariffs. The EU is holding fire on its reprisals as Trump has yet to sign into effect his plan to set tariffs for what he calls unfair competition for US industry.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Tarun Bhardwaj
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