On Wednesday, the EU’s top official hit back at Donald Trump, saying “trade wars are bad and easy to lose” as the bloc prepared to retaliate against the US president’s planned steel and aluminium tariffs. At a summit in Brussels on March 22-23, European Council President Donald Tusk also proposed that European Union leaders hold an emergency debate on the trade dispute.
Tusk told a press conference in Luxembourg, flanked by Luxembourg Prime Minister Xavier Bettel, “President Trump has recently said and I quote, ‘trade wars are good and easy to win.'” The former Polish premier said, “But the truth is quite the opposite: Trade wars are bad and easy to lose.”
Tusk proposed that an EU leaders summit later this month in Brussels hold “an extraordinary trade debate” over the possible “repercussions for our citizens and our businesses not to mention the global economy.”
He also said EU leaders should aim “to keep world trade alive and if necessary to protect Europeans against trade turbulences.” Tusk added such measures include proportionate responses in line with World Trade Organization rules.
On Wednesday, the European Commission, the 28-nation EU executive, warned it would hit flagship US products including peanut butter, orange juice and bourbon whiskey with counter measures if Trump goes ahead with the metal tariffs.