March 7, 2018 / 1:48 PM / 4 months ago

EU leaders to devote summit session to U.S. trade threat

LUXEMBOURG (Reuters) - EU leaders will discuss global trade and the threat of a “serious trade dispute” during a special session at their summit on March 22-23, European Council President Donald Tusk said on Wednesday.

FILE PHOTO: European Council President Donald Tusk arrives to meet Britain's Prime Minister Theresa May in Downing Street in London, March 1, 2018. REUTERS/Simon Dawson

Trump has announced plans to impose a 25 percent duty on steel imports and a 10 percent duty on aluminum.

“Given that President Trump’s announcement may have repercussions for our citizens and European businesses, not to mention the global economy, I will propose that the EU leaders have an extraordinary trade debate at the upcoming summit,” Tusk, who chairs EU summits, told a news conference in Luxembourg.

“We should have a clear objective in mind to keep world trade alive and if necessary to protect Europeans against trade turbulence, including by proportionate responses in accordance with the WTO,” he said.

He also said Trump’s view that trade wars were good and easy to win was wrong.

“But the truth is quite the opposite. Trade wars are bad and easy to lose,” he said.

Reporting by Philip Blenkinsop and Jan Strupczewski

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