U.S. President Donald Trump has promised to address a longstanding trade deficit with the European Union, saying he will reverse that by imposing tariffs or making the EU buy more U.S. oil and gas.

But with Trump preparing to rip up federal regulation and rethink the parameters of government action, the EU’s moves look altogether more tentative. “The engagement is not to deregulate, but to simplify,

Europe will respond to any tariffs imposed by President Donald Trump in a proportionate way, the European Union’s commissioner for the economy told CNBC Wednesday.

Mr Trump has also withdrawn the US from the Global Tax Deal - an agreement on a global minimum corporation tax.

Donald Trump is not at Davos but his name is on everyone’s lips at the annual gathering for the world’s elite...

President Donald Trump has given everyone at Davos something to talk about with his actions on the first day of his second term

The return of U.S. President Donald Trump to the White House is a wake-up call for European Union countries to fix their economies and become more competitive, the EU's senior financial officials said on Monday as Trump was sworn in for a second term.

The bloc's defence push could potentially be used as leverage in a trade standoff with Trump, according to Stephane Sejourne, the EU's commissioner for industrial strategy, who noted Europe's economy needs to be in good health to allow for more security spending.

Ursula von der Leyen casts Europe as an economic heavyweight that can forge new alliances during another “America First” presidency.