Valdis Dombrovskis, European Commission Vice-President for European and Social Dialogue, at the Renaissance Harbor View Hotel in Wan Chai. 02DEC17 SCMP/Xiaomi Chen (Photo by Chen Xiaomei/South China Morning Post via Getty Images)
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Europe will respond to any tariffs imposed by US President Donald Trump in a proportional way, the European Union Economic Affairs Commissioner told CNBC on Wednesday.
“If there is a need to defend our economic interests, we will respond in a proportionate way,” Valdis Dombrovskis told CNBC on Wednesday.
Speaking to CNBC's Steve Sedgwick on the sidelines of the World Economic Forum in Davos, Switzerland, he added: “We are ready to defend our values as well as our interests and rights if that becomes necessary.”
Since his inauguration on Monday, Trump has repeated his threat to impose tariffs on EU goods entering the United States, telling reporters that the EU has been “very bad for us. So they're going to get tariffs. That's the only way.” …You will get justice.”
He also said his administration is discussing charging an additional amount 10% tariff on goods Imported from China starting in February.
Dombrovskis said that the United States and Europe are strategic allies and it is important for them to work together both geopolitically and economically. He added that European officials are talking with their American counterparts to find a “workable” solution to discuss tariffs.
This is a developing story and will be updated soon.
