World
Customs duties are a significant economic mistake: Council of Europe President
Euronews reports that European Council President Antonio Costa has said that the tariffs imposed by US President Donald Trump are a "big economic mistake."
"This is a huge economic mistake for the United States, Europe, and the world. We need to respond decisively but at the same time wisely. That means we need to agree in the negotiations," he said.
He noted that a trade war between the European Union and the United States "will affect everyone."
He said that entering into a tariff war is not the best way.
"We need to respond in a way that finds a negotiated solution in the common and mutual interest of the United States and Europe, the American and the European economies," he assured.
"Our trade relationship accounts for 30% of world trade (and) 40% of world GDP, so this will not only affect Europe and the United States, but everyone, so this is a big mistake," he added.
