European Commission President Ursula von der Leyen at the World Economic Forum (WEF). Photo: VCG. In a speech delivered on Tuesday at the World Economic Forum (WEF), European Comm

Europe has entered a new era of harsh geostrategic competition and will have to work together to avoid a global race to the bottom, European Commission President Ursula von der Leyen said on Tuesday at the World Economic Forum in Davos.

European Commission President Ursula von der Leyen warned of a 'global race to the bottom' using economic tools like sanctions and tariffs. She emphasized the need for innovation and cooperation to maintain global economic bonds,

The European Union wants to engage and negotiate with U.S. President Donald Trump, European Commission President Ursula von der Leyen said on Tuesday, warning of the risk of a "global race to the bottom" using tools such as tariffs.

Video. Speaking at the Davos Summit, Ursula von der Leyen emphasided the EU's dedication to the Paris climate agreement and urged international cooperation, despite Trump’s decision to withdraw.

Officials and business executives at the annual gathering in Switzerland said the fight against global climate change would continue with or without the United States.

“The Paris Agreement continues to be the best hope for all humanity. So Europe will stay the course, and keep working with all nations that want to protect nature and stop global warming,” the European Union’s top executive said in a speech at the World Economic Forum in Davos.

European Union, largely due to the disruption of affordable Russian supplies, according to European Commission President Ursula von der Leyen.

Ursula von der Leyen reports a 75% drop in Russian gas imports, warns of rising energy costs for Europe amid the transition to independence.- Watch Video on English Oneindia

The European Union is keen to partner with countries around the world and is “open for business,” European Commission chief Ursula von der Leyen said Tuesday.

EU chief Ursula von der Leyen has called for the bloc to "deepen" ties with China and boost relations with India, while taking a "pragmatic" approach with Donald Trump's new US administration.

Von der Leyen’s announcement followed on the heels of a positive visit to Belgium by Indian Commerce Minister Piyush Goyal, during which he met European Trade Commissioner Maroš Šefčovič. The next round of talks on a free-trade agreement has been set for March 10-14 in Brussels.