Trump on trade: The EU "is possibly as bad as China, just smaller"

President Trump slammed American allies in Europe on trade, telling Fox News' Maria Bartiromo during an exclusive interview on Sunday morning, "The European Union is possibly as bad as China, just smaller. It's terrible what they do to us."

Why it matters: It's conventional wisdom among economists that the U.S. needs allies' support to take on a powerful — and growing — China.