(Jonathan Stearns & Nikos Chrysoloras – Bloomberg)
The European Union gave President Donald Trump a fresh warning about any U.S. curbs on imports from Europe by pledging rapid retaliation, highlighting the persistent risk of a trans-Atlantic trade war.
The EU fired the shot across the U.S. bow after Trump said in an interview with ITV broadcast over the weekend that he has “a lot of problems with the European Union.” This “may morph into something very big” from “a trade standpoint,” he said.
The alert by the European Commission also follows Trump’s decision last week to impose tariffs on U.S. imports of solar panels and washing machines on the basis of rarely used “safeguard” rules. In addition, it comes amid a continuing threat by Washington to curb American purchases of foreign steel and aluminum on national-security grounds. Click here to read more.