![]() On Saturday, French President Emmanuel Macron had an unscheduled lunch with Trump in Biarritz to discuss a host of issues, from Iran to trade, ahead of the summit. He stated that “France can count on our loyalty, as all member states do”. He said the last thing that the EU needs and wants is a confrontation, especially with “our best ally, the United States”, but added that “we have to be ready… and we are ready.” “If the US imposes tariffs on France, the EU will respond in kind,” he said. Tusk said the EU will stand with France and strike back if the US imposes tariffs on French wines. Trump has also threatened to slap heavy tariffs on European cars, triggering deep concern in Germany, a major car exporter to the US and an economy that some believe are heading into recession. The US and the EU have already threatened tit-for-tat tariffs over airplane subsidies. ![]() It also came after US President Donald Trump, before leaving for the G7 summit in France, repeated his threat to impose punitive tariffs on French wines if France goes ahead with the new digital services tax, which is deemed targeting US tech giants such as Google, Facebook and Amazon. His words came just a day after the US and China announced new tit-for-tat tariffs on each other’s exports, an escalation that has brought down the stock prices in the US and other parts of the world and increased business uncertainty. “Trade war will lead to recession, while trade deals will boost the economy, not to mention the fact that trade wars among G7 members will lead to eroding of the already weakened trust among us.” ![]() “Trade deals and the reform of WTO are better than trade wars,” Tusk said in a press conference before leaders of the US, Germany, Japan, the United Kingdom, France, Italy and Canada meet in the oceanfront city of Biarritz, France, for the 45th edition of the G7 summit from Aug 24-26. European leaders attending the G7 Summit voiced their deep concern on Saturday over the trade wars between the United States and China and a looming one between the US and the European Union.Įuropean Council President Donald Tusk on Saturday called for an end to the trade wars.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |