The European Union on Thursday pushed back against allegations by US President Donald Trump that the 27-nation bloc was out to get the United States, and warned that it would fight any wholesale tariff of 25 percent on all EU products.

The pushback came after Trump told reporters at his first cabinet meeting on Wednesday that “the European Union was formed in order to screw the United States. That’s the purpose of it, and they’ve done a good job of it,” adding that it would stop immediately under his presidency.

Prime Minister Donald Tusk of Poland, which holds the EU's rotating presidency, went on a counter-offensive.

“The EU wasn’t formed to screw anyone," Tusk said in an X post. "Quite the opposite. It was formed to maintain peace, to build respect among our nations, to create free and fair trade, and to strengthen our transatlantic friendship. As simple as that.”

Trump also threatened to introduce tariffs on EU imports, saying his administration will soon announce a 25 percent "reciprocal" tariff on goods from its longtime trade partner, including cars.

French Finance Minister Eric Lombard said on Thursday that the EU would "do the same" if the US follows through with the tariffs.

"It is clear that if the Americans maintain the tariff hikes, as President Trump announced, the EU will do the same," Lombard told AFP on the sidelines of the G20 finance ministers meeting in Cape Town.

"Even if it is not in the general interest, we too must protect our interests and the interests of the countries of the union.”

Italy’s business lobby said late on Wednesday that Trump’s tariff threat would undermine EU's companies, and its workforce and require a strong response from the bloc.

"The threat is not only of an impact on trade dynamics. The truth is far more dramatic... What is coming from the American leadership is an attack on European companies and jobs," Confindustria president Emanuele Orsini said in a statement.

He said Trump's trade policies aimed to "de-industrialise" the European continent and urged Brussels to consider "extraordinary measures for an extraordinary time".

"It is a dark hour," Orsini said.

Industry Minister Adolfo Urso, a member of Prime Minister Giorgia Meloni's Brothers of Italy party, took a more conciliatory tone, saying a trade war had to be avoided and urging unity among the Western allies.

Bank of Italy Governor Fabio Panetta said this month that a full implementation of the tariffs, plus retaliatory measures, would cut EU growth by half a percentage point, with Germany and Italy hardest hit.

The tit-for-tat dispute further deepened the trans-Atlantic rift that was already widened by Trump's warnings that Washington would drop security guarantees for its European allies. (Agencies)