Filenews 22 January 2025
Europe will respond to any tariffs imposed by U.S. President Donald Trump in a proportionate manner, the European Union's economy and productivity commissioner told CNBC on Wednesday.
"If there is a need to defend our economic interests, we will respond in a proportionate manner," Valdis Dombrovskis told CNBC on Wednesday.
"We stand ready to defend our values, but also our interests and rights if necessary," he added, speaking to CNBC's Steve Sedgwick on the sidelines of the World Economic Forum in Davos, Switzerland.
Since his inauguration on Monday, Trump has repeated his threat to impose tariffs on EU goods entering the U.S., telling reporters that the EU was "very, very bad for us. So it will be included in the tariffs. It's the only way... to have justice."
He also said his government was discussing imposing an additional 10 percent tariff on goods imported from China, starting in February.
Dombrovskis said the U.S. and Europe are strategic allies and it would be important to work together, both geopolitically and economically. He said European officials were talking to their U.S. counterparts to find a "realistic" solution to the tariff discussion.
