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.

The European Commission chief did not explicitly mention the new US president or his trade policies, but underscored the number of American jobs tied to European trade.

European Commission President Ursula von der Leyen warned of a 'global race to the bottom' using economic tools like sanctions and tariffs. She emphasized the need for innovation and cooperation to maintain global economic bonds,

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.

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.

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.