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EU Warns US  on Trade
World Economy

EU Warns US on Trade

A senior European Union official is warning that the 28-nation bloc will hit back if US President Donald Trump takes trade measures against it, Reuters reported. EU budget commissioner Guenther Oettinger told Sunday’s edition of Germany’s Welt am Sonntag newspaper: “If European exporters have to pay tariffs, that will become a two-way street. Then US exporters will have to pay tariffs here.” Trump expressed his annoyance with EU trade policy a week ago, saying that it “may morph into something very big.” The EU then said it stands ready to hit back “swiftly and appropriately” if Trump imposes unfair trade measures. Oettinger said: “Anyone who uses the instrument must know that we also have it.” Last week, EU Commission spokesman Margaritas Schinas said it was ready to retaliate after Trump attacked the bloc for its “very unfair trade policy” towards the United States. Hitting back to the American leader’s comments, Schinas said: “For us trade policy is not a zero sum game. It is not about winners and losers. We here in the European Union believe that trade can and should be win-win.”

 

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