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Look at services when griping about trade deficit: EU to Donald Trump

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Jonathan Stearns | Bloomberg
The European Union's top two officials warned about greater trade tensions with the US as President Donald Trump weighs tariffs on foreign cars after irking American allies with metal-import levies. 

EU President Donald Tusk said Europe must be prepared for "worst-case scenarios" in international commerce, echoing an alarm he sounded before a European summit last week. Jean-Claude Juncker, head of the European Commission, the 28-nation bloc's executive arm, said Trump's fixation on a US trade deficit in goods ignores a services surplus. 

"We feel that the deficit is on the other side," Juncker told the European Parliament on Tuesday in Strasbourg, France.