European Union promises a fight after Donald Trump threatens 'very big trade war'

The comment follows US President Donald Trump's statement made earlier in the day during an interview with UK ITV broadcaster, saying that he had a lot of problems with the European Union in the sphere of trade, calling their practices discriminatory toward the US and explaining that their alleged global currency manipulations had impacted the US trade deficit over the past two decades.

The European Commission has issued a warning shot that it will react "swiftly and appropriately" if the United States starts a trade war with it.

He repeated his stance in Davos, Switzerland, when sitting down with British journalist Piers Morgan for an interview aired on Sunday, Xinhua news agency reported.

In September, the EU's economic and financial committee stated that the rise of the American protectionism and supply-side reforms are poised to undermine the stability of global trade.

The rhetoric has not yet translated into substantial action, but the Trump administration's efforts to crack down on what it perceives as unfair trade now appear to be gaining momentum.

Last Sunday in declarations to the British ITV network, the U.S president, Donald Trump, considered as "very unfair" the commercial policy of the European Union towards his country. And yet they send their products to us - no taxes, very little taxes.

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"They're not the only ones, by the way".

Will react if trade restricted Meanwhile, EU said it will react swiftly if the USA restricts its exports. I could name many countries and places that do.

In his comments on January 29, Schinas said the European Union is committed to the multilateral economic order in place since the end of World War II and underpinned by the World Trade Organization.

A spokesman for the European Commission said: "For us trade policy is not a zero sum game". He added, "I would say that the European Union is not cracked-up to what it's supposed to be".

"We also believe that while trade has to be open and fair it also has to be rules-based".


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