The European Commission warned US President Donald Trump on Monday that it will respond “quickly and appropriately” if the United States introduces any measures to restrict European exports.
The Commission’s statement comes after comments made by Donald Trump in an interview on Sunday with Britain’s ITV in which he described the EU’s trade policy towards the United States as “very unfair”.
“Our products cannot get in. It’s very difficult and they send us their products without paying taxes, very few taxes, it’s very unfair,” said the US president.
“They’re not the only one, by the way,” the president continued. “I could name many countries and places that do. But the European Union has been very, very unfair to the United States. And I think it will turn out to be very much to their detriment.”
When asked about Trump’s criticism of the EU in trade matters, the EU spokesman said “It is not about winners and losers. We here in the European Union believe that trade can and should be win-win.”
The war of words comes just days after the US International Trade Commission overturned a decision by the Commerce Department to impose a 292 percent tariff on imports of Bombardier planes, in a move that threatened thousands of manufacturing jobs in the UK.
Transatlantic tensions were also raised last week when ECB president Mario Draghi criticised US Treasury Secretary, Steven Mnuchin’s comments in favour of the weak dollar.
The euro has appreciated 5 percent against the US currency so far this year, adding to its 11 percent surge in 2017. Last Thursday, Mnuchin said that the weak dollar was “obviously good for us [the US] as it relates to trade and opportunities.”
Draghi accused the US of “targeting exchange rates” which, he said, “violated an agreement that has been in place for decades.”