US: Trump hints at fight over US$1t trade with Europe

US President Trump has warned that the US administration may soon address “very unfair” trade with the European Union.

“I’ve had a lot of problems with the European Union, and it may morph into something very big from … a trade standpoint,” Trump said in an interview with British broadcaster ITV on Sunday, January 28.

“It’s a very unfair situation,” he added. “We cannot get our product in. It’s very, very tough, and yet they send their product to us—no taxes, very little taxes.”

Trump has on several occasions criticized the EU over trade, singling out export powerhouse Germany for running a big trade deficit with the United States.

The rhetoric has not yet translated into substantial action, but the Trump administration’s efforts to crack down on what it perceives as unfair trade now appear to be gaining momentum.

The EU said Monday that trade policy is “not about winners and losers.”

“The European Union stands ready to act swiftly and appropriately in case our exports are affected by any restrictive trade measures from the United States,” said European Commission spokesman Margaritis Schinas.

Full Content: Bloomberg

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