EU threatens to hit back US on trade if needed

One of European Union’s (EU) senior officials is warning that the 28-nation bloc will hit back if US President Donald Trump takes trade measures against it.

Budget commissioner of EU Guenther Oettinger told Sunday's edition of Germany's Welt am Sonntag newspaper, "If European exporters have to pay tariffs, that will become a two-way street. Then US exporters will have to pay tariffs here."

Mr Trump expressed his annoyance with EU trade policy a week ago, saying that it "may morph into something very big." The EU then said it stands ready to hit back "swiftly and appropriately" if Trump imposes unfair trade measures.

Associated Press quoted Mr Oettinger as saying, "Anyone who uses the instrument must know that we also have it. And the European market is at least as big as the American one."