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What happens when allies become enemies in trade negotiations
Description
The European Union rejected accusations from U.S. President Donald Trump regarding targeting the United States and warned against proposed tariffs on EU products. Polish Prime Minister Donald Tusk clarified that the EU promotes peace, fair trade, and transatlantic relations. The EU stated that tariffs would lead to countermeasures affecting significant U.S. industries. Trump claimed that the U.S. could handle EU retaliation, citing economic strength. The EU's trade spokesman noted that the EU functions as the largest free market, facilitating trade worth about $1.5 trillion, which constitutes 30% of global trade. The EU acknowledged an export surplus in goods, offset by a U.S. surplus in services. The EU emphasized the importance of avoiding a trade war and favored cooperation over conflict.
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