US President Donald Trump lashed out at the European Union during his first major speech to a global audience since starting his second term in the White House.
In a nearly hour-long address to business and political leaders gathered at the World Economic Forum in Davos, Switzerland, Trump said the United States is treated “very unfairly” and “very badly” by the 27-nation bloc owing to its trade and business rules.
Trump said he would not tolerate the US trade deficit with the EU. He also baselessly accused the EU of refusing to buy agricultural products and cars from the US.
“I’m trying to be constructive, because I love Europe,” he said by video link from Washington.
During his election campaign, Trump mentioned plans to introduce new tariffs of 10% to 20% on imports from the EU, saying they would boost domestic industries and address the trade deficit.
There was a fierce trade row between the US and the EU during Trump’s first term in office.
In 2018, Trump introduced tariffs on steel and aluminium imports, prompting the EU to respond with tariffs on US products such as bourbon, Harley-Davidson motorcycles and jeans.
In her speech to Davos on Tuesday, European Commission President Ursula von der Leyen said she feared about the impact of economic conflict with the US.
“Our first priority will be to engage early, discuss common interests and be ready to negotiate,” she said.
American aeroplanes and medicines are made with European materials and tools, the EU imports many digital services and large quantities of liquefied natural gas (LNG) from the US, the commission president said.
“A lot is at stake for both sides,” she said.