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

European Council President Donald Tusk speaks during a news conference on the margins of the G7 summit in Biarritz, France (Reuters photo)

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.

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