Trump hints at fight over $1 trillion trade with Europe

U.S. President Donald Trump | Fabrice Cofrini  AFP via Getty Images

Speaking last week at the World Economic Forum in Davos, Trump said that "predatory" trade behaviors were "distorting the global markets, and harming business and workers".

THE European Union warned today it would react "swiftly and appropriately" if Washington imposed trade curbs, after US President Donald Trump accused the bloc of trading "very unfairly" and hinted at such action.

Last summer, Cecilia Malmström the European Union commissioner for trade said a trade war between the United States and European Union would have negative implications on the whole world.

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 worldwide currency manipulations had impacted the US trade deficit over the past two decades.

Goods and services trade between the U.S. and the European Union totaled almost $1.1 trillion in 2016, according to the Office of the U.S. Trade Representative.

He added: "We can not get our products in". It's very, very tough.

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

"Many countries are puzzled a little bit about the lack of leadership from the United States", Malmstrom said.

But Europe warned of a "robust response" if there were a trade war.

In reaction to the Trump interview, Schinas said: "For us, trade policy is not a zero-sum game, it is not about winners and losers. Here in the European Union, he added, 'we believe that trade can and should be a win-win; 'We believe that although trade must be open and fair it also has to be based on standards".

Will react if trade restricted Meanwhile, EU said it will react swiftly if the United States restricts its exports. He announced a year ago he would withdraw from the Trans-Pacific Partnership, a multilateral trade agreement with Pacific Rim countries, and has threatened to do the same with the North American Free Trade Agreement (NAFTA).

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