The EU said instead that the bloc was the world's largest free market that had created an economic windfall for US companies working on and with the continent.
The bloc said it would vigorously fight a wholesale tariff of 25 per cent on all EU products headed for the US, as Trump has threatened in the latest round of comments aimed at an age-old ally and economic partner.
The EU pushback on Thursday came after Trump told reporters that "the European Union was formed in order to screw the United States", adding: "That's the purpose of it, and they've done a good job of it."
He said it would stop immediately under his presidency, adding that the tariffs would be on "cars and all other things".
The moment the tariffs would be announced, the EU has said it would trigger tough countermeasures, on famous US industries such as bourbon, jeans and motorcycles.
"The EU will react firmly and immediately against unjustified barriers to free and fair trade," European Commission trade spokesman Olof Gill said in a statement.Â
"We will also protect our consumers and businesses at every turn. They expect no less from us."
Trump said in comments late Wednesday that the United States stood ready.
"We are the pot of gold. We're the one that everybody wants. And they can retaliate. But it cannot be a successful retaliation, because we just go cold turkey. We don't buy any more. And if that happens, we win," he said.
Gill also countered Trump's caustic comments on the inception of the EU and its development as an economic powerhouse.
"The European Union is the world's largest free market. And it has been a boon for the United States," he said, adding that the EU has "facilitated trade, reduced costs for US exporters, and harmonised standards and regulations", which makes it easier for US exporters.
"We should work together to preserve these opportunities for our people and businesses. Not against each other. Europe stands for dialogue, openness and reciprocity. We're ready to partner if you play by the rules."
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