EU vows to defend interests as Trump renews tariff threats
The European Union has announced a proportional response to any potential tariffs imposed by US President Donald Trump. EU Commissioner for the Economy, Valdis Dombrovskis, emphasised that the Union is prepared to defend its economic interests.
Donald Trump has renewed his threats to impose tariffs on imports from China, Mexico, and Canada, adding that he intends to do so on February 1st. He also mentioned the European Union, which he believes treats America "very badly."
The EU responds to Trump's announcements
The European Union is preparing to respond to potential tariffs that US President Donald Trump may impose.
"If there is a need to defend Europe's economic interests, we are ready to do so," said EU Commissioner for the Economy, Valdis Dombrovskis, on CNBC.
During the World Economic Forum in Davos, Dombrovskis noted that the US and Europe are strategic allies, and cooperation is crucial from a geopolitical and economic standpoint. He indicated that European officials are discussing tariffs with their American counterparts to find a pragmatic solution.
Even before being sworn in, Trump announced he would impose an additional 25% tariff on goods from Mexico and Canada. On Monday, the new US president confirmed that he is considering these tariffs as early as 1st February. He also mentioned China and the European Union but did not provide further details.
