EU prepares for trade war with the US?

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According to the Minister of Commerce Wilbur Ross, for the first time they have to determine the extent to which the trade deficit is a consequence of free trade agreements, that did not give US the projected benefits. He said that other countries are more protectionist than the United States, and he did not rule out action in trade policy.

So, the Italian newspaper on Friday wrote: “Trump declared war on the Vespa scooter”.

The business community of Europe anxiously met the idea of Trump on the introduction of 100% tariffs on European goods in response to the EU ban on the import of American meat, which is hormonally processed. The European Union is preparing to defend its interests in the WTO. American beef producers complained about the ban.

Meanwhile, Germany has urged the EU to file a lawsuit in the WTO against the United States due to the imposition of Washington's increased anti-dumping duties against European steel producers. Fees raised within the proceedings on the dumping of the steel companies in Austria, Belgium, Germany and France. Foreign Minister of Germany Sigmar Gabriel said that the decision of the Ministry of Economy of the USA is an “accounting trick.”

The summit of G7 leaders will be hosted at the end of May in Taormina (Sicily). The Prime Minister of Italy  Paolo Gentiloni said that the summit will be a platform to discuss a wide range of topics, including questions about the preservation of the free market.

“We will have the opportunity to discuss issues about the preservation of the free market and prevent the spread of trends of protectionism at the summit “the seven,”-  said Gentiloni. “This is the first summit which will be attended by the new American President.”