ECB president Christine Lagarde said EU leaders should avoid entering a trade war and seek to negotiate with Trump instead

Donald Trump’s US election victory is a “wake-up call” for Europe to slash red tape and boost defence spending, three of the bloc’s top officials have warned.

The European Union should seek constructive engagement on trade with the incoming Trump administration, but be ready to hit back in a coordinated way at the United States if it imposes new tariffs on the 27-nation bloc,

ECB chief takes aim at claim that tariffs will ‘make America great again’ — but calls for negotiation, not retaliation