On Trump's decision to impose tariffs on steel and aluminium imports, a move the European Union has warned could spark a trade war, the leaders also presented a united front.
European frustration over the Trump administration has been growing, especially following its pullout from the Iran deal last week.It was reflected in EU chief Donald Tusk's remarks following the Sofia summit.
Given the above issue, the legislation will not recognize any court order to impose a fine that the White House may impose on the European companies to do business in the Islamic Republic of Iran, he said, adding, "as the European Commission, we are duty bound to protect our companies in the face of sanctions imposed by USA on Iran".
India, which has significant investment in Iran, has said it will take necessary measures to offset any adverse impact on its interests due to US President Trump's decision to walk out of the Iran nuclear deal.
Trump announced the U.S. would withdraw from the Iran deal earlier this month, saying the global agreement was a failure and an "embarrassment to the United States".
Mr. Trump's Iran decision is part of a broader pattern of actions that have deeply frustrated America's European allies.
"We all agreed that we have a relative in intensive care and we all want to get him or her out of intensive care as quickly as possible", European Union foreign policy chief Federica Mogherini told reporters after the 90-minute meeting.
According to AP, President Emmanuel Macron is seeking to diffuse the threat of a trade war against the US, despite Paris' disapproval of President Trump's decision to scrap the nuclear deal.
"We will begin the "blocking statute" process.We must do it and we will do it tomorrow morning at 10:30", Juncker said at the summit in Sofia.
Also, EC has chose to allow European Investment Bank to facilitate investment of European companies in the Islamic Republic of Iran, he maintained. Photo: REUTERS/Jonathan Ernst The strain now being placed on the historic relationship between the western European states and the U.S was highlighted by the former ExxonMobil CEO Rex Tillerson who was US secretary of state before being fired over Twitter by President Trump.
"If they can not do that, we are ready to take our nuclear programme to a level stronger than before the JCPOA", Ali Akbar Salehi said.
Still, EU leaders put on a fearless face, sticking by the Iran accord despite their weak hand in defying the will of the country that issues the dollar, the dominant currency of worldwide trade.
We already have three examples and all of them pertain to Asia - the continent with the most number of volatile regions - and Trump's actions in each of those have flouted all levels of normality in the diplomatic realm and putting universal peace at stake. In response to a poser from a journalist whether China would order its companies to withdraw from Iran to avoid United States sanctions, the Chinese Foreign Ministry spokesman said Beijing might defy the Trump administration.