EU leaders rounded on US President Donald Trump over his trade threats on Saturday at a G-7 summit in France overshadowed by trans-Atlantic tensions and worries about the global economy.
After ramping up his high-risk trade war with China on Friday, Trump left for the meeting with his Western partners in the town of Biarritz threatening to impose tariffs on French wine.
Follow Israel Hayom on Facebook and Twitter
"Trade wars will lead to recession, while trade deals will boost the economy," EU Council President Donald Tusk
said as leaders of the Group of Seven (G-7) countries descended on the French resort town of Biarritz for a three-day summit.
"The last thing we need is a confrontation with our best ally the United States," Tusk said, adding however that the bloc would "respond in kind" to any new US tariffs.
In a televised address to the nation from Biarritz, French President Emmanuel Macron also stressed that his goal was "to convince all our partners that trade tensions are bad for everyone". And he vowed to work on "a real recovery" for the global economy.
"We have to achieve some form of de-escalation, stabilize things, and avoid this trade war that is taking place all over," he said. "We have to work for more growth, and more jobs."
France, in particular, was targeted by Trump just before his departure for Biarritz, when the US leader threatened to impose heavy tariffs on French wines in retaliation for a new French tax on large US tech companies like Google.
"Frankly, I don't want France going out and taxing our companies. Very unfair," he told reporters in Washington on Friday. "If they do that, we'll be taxing their wine or doing something else. We'll be taxing their wine like they've never seen before."
Wall Street stocks slumped on Friday after Trump escalated his trade war with China that is seen as a possible reason for the global slowdown.
The trade disputes have jumped to the forefront of this year's G-7 summit, with both Tusk and Macron also warning that any ambitious deal in the works between the EU and Latin American nations is now at risk over Brazil's response to an outbreak of wildfires in the Amazon.
"It is hard to imagine a harmonious process of ratification by the European countries as long as the Brazilian government allows for the destruction of the green lungs of planet Earth," he added.
Tusk added that the EU was ready to offer financial help to fight the fires.
This article was originally published by i24NEWS.
