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Valdis Dombrovskis, European Commission Vice-President for the Euro and Social Dialogue, pictured at the Renaissance Harbor View Hotel in Van Chai. 02 DECEMBER 17 SCMP/ Xiaomei Chen (photo by Chen Xiaomei/South China Morning Post via Getty Images)
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Europe will respond proportionately to any tariffs imposed by US President Donald Trump, the European Union’s economic commissioner told CNBC on Wednesday.
“If there is a need to protect our economic interests, we will respond proportionately,” Valdis Dombrovskis told CNBC on Wednesday.
“We stand ready to defend our values and our interests and rights if it becomes 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 imported into the United States, telling reporters that the EU is “treating us very, very badly. So they will expect tariffs. That’s the only way … you’ll get justice.”
He also said his administration was discussing introducing an additional one 10% tariff on goods imported from China starting in February.
Dombrovskis said that the US and Europe are strategic allies and that it is important for them to work together, both geopolitically and economically. He said European officials were talking to their American counterparts to find a “pragmatic” solution to the tariff discussions.
This is a developing story and will be updated soon.
