“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.

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. View on euro

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.

The Commission's 'Action Plan on Affordable energy' is slated for 26 February, and von der Leyen has charged her Energy Commissioner Dan Jørgensen with updating the governance rules which set out how EU countries collectively manage the bloc's power grid.

European Commission President Ursula von der Leyen warned on Tuesday of the risk of a 'global race to the bottom' using economic tools such as sanctions, export controls and tariffs.