President: Trade War Helps No One, Has No Winner

Bratislava, March 12 (TASR) - A trade war won't help anyone, there's no winner in such a war, and economies on both sides of the Atlantic will suffer at the end of it, said President Peter Pellegrini on Wednesday in response to the tariffs imposed by US President Donald Trump on aluminium and steel imports to the USA and the retaliatory tariffs announced by the EU on imports of US goods into the EU. "I believe that responsibility and a rational approach will prevail in mutual relations and that we'll return to the economic cooperation that has proved successful in previous years," said Pellegrini. The European Union (EU) will impose "counter-measures" on US goods worth €26 billion as of April 1, European Commission (EC) head Ursula von der Leyen announced on Wednesday. Trade and Economic Security Commissioner Maros Sefcovic stressed that the US tariffs "are taking us in the wrong direction" and stressed that the Union is keen to avoid a "trade war". am/df