Electoral battles

Donald Trump: EU was formed 'to beat the US at making money'

Donald Trump has claimed that the European Union was created to “beat the United States when it comes to making money” in an interview with NBC News.

Speaking to Chuck Todd, whom the Republican nominee has repeatedly berated as “sleepy-eyed”, Trump also said of the EU “the reason that it got together was like a consortium so that it could compete with the United States”.

The European Union was founded as the European Coal and Steel Community in 1952 in an effort to promote strong cross-border ties in Europe and avoid future wars. It has since evolved to a customs union and eventually to the transnational entity devoted to removing internal trade barriers, building a common market and a fiscal union. Its development and growth has been repeatedly supported by the United States under presidents of both parties.