Chancellor of Austria: The trade war between the USA and the EU will benefit China.

In the event of a trade war between the USA and the European Union, both sides will incur losses, - Schallenberg

According to Austrian Federal Chancellor Alexander Schallenberg, in the event of a trade war between the USA and the European Union, both sides face losses, but the only winner may be China.

I hope that this will not happen because in a trade war everyone suffers losses, and the only one who will actually benefit will be China. If you think about it, 4 billion euros pass across the Atlantic every day, it becomes clear that this is our most important trading partner, but likewise vice versa. Therefore, I believe that in the event of a conflict we will only harm each other', - commented Schallenberg on the threats of the US president to introduce new tariffs on goods from the EU and the possible reaction to this from the European Union, as reported by Ukrinform.

According to the Chancellor of Austria, the European Union has prepared for such a situation and is ready to respond depending on further news.

'We have prepared for this, as the situation was not a surprise for us. Depending on the news that comes in, we will be able to respond accordingly', - noted Schallenberg.

In the Chancellor's conviction, it is important for European countries to remain united and participate in decisions together, rather than diverging.

The Chancellor hopes that a compromise will be reached on tariffs between the USA and the EU.