US President Donald Trump lashed out at the European Union on Thursday during his first major speech to a global audience since starting his second term in the White House, reinforcing worries in Brussels about the future of EU-US relations.

Business leaders in Davos joined calls by U.S. President Donald Trump for the European Union to speed up efforts to reduce regulation and increase competition to prevent the bloc from falling further behind other developed markets.

As the Commission struggles to find new outlets for its exports, the question of whether this will be enough in the face of the tariffs Donald Trump is threatening to impose remains open. #EuropeNews