European Commission President Ursula von der Leyen warned on Tuesday of the risk of a 'global race to the bottom' using economic tools such as sanctions, export controls and tariffs. Speaking at the World Economic Forum's annual meeting a day after the inauguration of U.

The European Union wants to engage and negotiate with U.S. President Donald Trump, European Commission President Ursula von der Leyen said on Tuesday, warning of the risk of a "global race to the bottom" using tools such as tariffs.

Von der Leyen’s announcement followed on the heels of a positive visit to Belgium by Indian Commerce Minister Piyush Goyal, during which he met European Trade Commissioner Maroš Šefčovič. The next round of talks on a free-trade agreement has been set for March 10-14 in Brussels.

“The Paris Agreement continues to be the best hope for all humanity. So Europe will stay the course, and keep working with all nations that want to protect nature and stop global warming,” the European Union’s top executive said in a speech at the World Economic Forum in Davos.

Europe has entered a new era of harsh geostrategic competition and will have to work together to avoid a global race to the bottom, European Commission President Ursula von der Leyen said on Tuesday at the World Economic Forum in Davos.