The new US administration has sent jitters across the world with trade plans that could severely damage the EU. View on euronews

BRUSSELS, Jan 23 (Bernama-dpa) -- The European Commission has rejected US President Donald Trump's claims that the United States runs a trade deficit of US$350 billion with the European Union, reported German news agency dpa.

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.

European Commission President Ursula von der Leyen has talked big about the EU becoming a leader in AI innovation as part of a larger bid to help the region catch up with the U.S. and China. French President Emmanuel Macron is aiming for a similar pitch at a global AI summit he'll host next month.

EU trade chief Maroš Šefčovič extended an olive branch to Washington on Wednesday, two days after the U.S. president was sworn in. He told POLITICO that Brussels was ready to talk with the new Washington administration — despite the repeated threats that Trump has made to hit the 27-nation bloc with tariffs.

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,

Weak, distracted and unprepared? How prepared France, Germany and the rest of the continent really are for his return to power

Banking and oil executives will quiz Donald Trump at the World Economic Forum in Davos on Thursday as the US president makes a much-anticipated online appearance to the gathering of global elites.

European business chiefs warned Tuesday that the region risks falling behind its counterparts in the U.S. and Asia.

Experts say the withdrawal will diminish the agency's ability to provide public health support, while the WHO said it "hopes the US will reconsider".

U.S. President Donald Trump's return to the White House has been met with both relief and disappointment across world markets as investors try to work out what the next four years will bring.