MEP Poznaks expects swift EU response to US tariffs

RIGA - The European Union (EU) should reconsider its response to the US decision to impose 20 percent tariffs on the bloc, and this should be done quickly, Latvian MEP Reinis Poznaks (United List) told LETA.

History also shows that tariffs wars have never worked in anyone's favor, he said. Poznaks pointed out that while US President Donald Trump's tariffs against a number of countries, including the bloc, will have an impact on the US economy, "we will not be better off".

"I think the EU needs to be bold in imposing retaliatory tariffs against the US, even if it means tightening its belt. Europe should finally regain its self-respect", the politician said.

As reported, Trump has announced new tariffs on imports of goods from abroad, including high tariffs on China and the EU, important US trading partners.