Spanish Prime Minister Pedro Sanchez told CNBC on Wednesday in Davos that a trade war is not in the interest of either the European Union or the United States.
"We share a strong transatlantic bond ... our economies are very interlinked," he remarked, adding that a trade war is a "zero-sum game" and that the two should focus on strengthening the relationship.
Sanchez's comments come after US President Donald Trump vowed to hit the bloc with tariffs, criticizing its trade practices. Earlier today, European Commission's Executive Vice-President and Commissioner for Trade Valdis Dombrovskis said that the EU is ready to respond "in a proportionate way" should that be necessary.
