EU's Tusk warns 'trade wars will lead to recession'

EU Council President Donald Tusk warned Saturday that US President Donald Trump's escalating trade skirmishes with China and Europe could force economies around the world into recession.

"Trade wars will lead to recession, while trade deals will boost the economy," Tusk said as leaders of the Group of Seven (G7) countries descended on the French resort town of Biarritz for a three-day summit.