Sejourne: The EU Must Be Ready to Defend Itself Against Protectionist Trade Measures from Other Countries

Forex - The European Commission's Vice President for welfare and industrial strategy, Stephane Sejourne, stated that the European Union must be prepared to defend itself against protectionist trade measures by other countries, including new steps that Donald Trump may take when he returns to the White House at the end of this month.

In an interview with Bloomberg TV, Sejourne mentioned that the bloc has both offensive and defensive tools at its disposal, including potential tariffs on U.S. imports and financial support for European businesses to safeguard its industries.

"Markets around the world are becoming increasingly protectionist, and subsidies are making our industries uncompetitive. This issue needs to be addressed," Sejourne remarked, expressing hope to convince Trump that a trade war would harm U.S. businesses by restricting access to the EU, which hosts 450 million consumers.

Sejourne added, "We have a lot to lose from a collective trade war. I am ready to explore both defensive and offensive actions with my colleagues."