“We will not be able to organize ourselves effectively, particularly on the Eastern Front, if we also have a trade war which costs us enormously,” he insisted, in reference to aid to the ‘Ukraine.
With the arrival of Donald Trump, “it is very likely that a trade war will break out”
To the question of a European response “by force” to a trade war, the European Commissioner reacted cautiously: “I cannot answer you”. The Europeans themselves would suffer in the event of increased customs duties on American products and “the trade balance with the United States is very favorable to the Europeans”, he stressed.
“There are two possible strategies, an offensive approach or a defensive approach. We can have a response on customs duties but the Europeans will pay it,” he continued, taking the case of European companies which buy parts detached from Boeing.
“We must be offensive and perhaps even be radical if necessary,” he nevertheless said.
-He also mentioned a “defensive approach which consists of redirecting a certain number of purchases around the world”, for example “suspending supplies of LNG (liquefied natural gas) to Azerbaijan to buy more from the Americans”.
Why Donald Trump’s inauguration could be turned upside down: “It’s a real disaster”
“The whole world is dependent on what Donald Trump does tonight. A certain number of executive orders will be issued. And I think that neither the Canadians, nor the Mexicans, nor us, nor the rest of the world, knows exactly what there is in these decrees,” he concluded.
Donald Trump plans in particular to impose, from January 20, customs duties of 25% on all products coming from Mexico and Canada. China could also see its taxes increase by 10% and the euro zone is also in its sights.
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