Addressing G7 Summit in Biarritz, France, the president of the European Union Council Donald Tusk called for “Putting a stop to trade wars. Trade deals and the reform of WTO are better than trade wars.Trade wars will lead to recession, while trade deals will boost the economy, not to mention the fact that trade wars among G7 members will lead to eroding the already weakened trust among us.”

The European Union will “respond in kind” if the U.S. imposes tariffs on France over digital tax plan, Donald Tusk added.

Before leaving for the Summit the American President Donald Trump warned about possible tariffs imposition on French wines in retaliation of the decision of National Assembly to tax US digital companies (GAFA) 3%, operating in France. At present this tax could generate an amount up to €500 million a year and more for the French state purse.