The European Union says it's prepared to react swiftly if the United States restricts the flow of EU exports. The announcement came after U.S. President Donald Trump threatened to confront the bloc over its trade policy that he called "very unfair".

MARGARITIS SCHINAS EUROPEAN COMMISSION CHIEF SPOKESPERSON "Trade can and should be win-win. We also believe that while trade has to be open and fair, it has also to be rules-based. The European Union stands ready to react swiftly and appropriately in case our exports are affected by any restrictive trade measures from the United States."

Trump said in a weekend interview on Sunday that he had a lot of problems with the EU and that it could "morph into something big" on trade. Washington imposed tariffs of 20 percent on imported washing machines and of 30 percent on incoming solar cells and modules last week, as part of a broader protectionist agenda. The European Commission said it had serious doubts that move met World Trade Organization conditions and would analyse the impact on EU exports.