yankeedoodle
06-07-2018, 11:57 PM
FRANCE’S economy minister has accused the United States of drawing the European Union into a tit-for-tat trade war as he attacked Donald Trump’s decision to slap tariffs on the bloc.
By ROMINA MCGUINNESS
PUBLISHED: 17:20, Thu, Jun 7, 2018 | UPDATED: 17:20, Thu, Jun 7, 2018
https://youtu.be/OLydo06azAc
The country’s finance chief Bruno Le Maire said while the bloc did not want to enter into a trade war with Washington, it was determined to protect its “economic sovereignty”.
He added trade wars “fuel populism and isolationism” at a time when Europe has been shaken to its core by anti-establishment parties who “feed” on these disputes.
Mr Le Maire said: “By trying to weaken the bloc, the United States is encouraging the populist wave that is threatening Europe.”
And France’s finance chief called on the EU, which “cannot accept nor understand” the tariffs, to work with Washington to find a solution to the dispute.
He said: “Unilateralism leads us to nowhere but conflict… While we do not wish to enter into a merciless trade war, we cannot sit idly while the bloc is hit with unfair tariffs. The European Union is determined to affirm its economic sovereignty.
“And if the Americans wish to re-establish a dialogue with their allies, they must take the first step and demonstrate their willingness to cooperate by sending clear de-escalating signals.”
US President Donald Trump stirred trade chaos last week after his Commerce Secretary Wilbur Ross confirmed that tariffs of 25 percent on steel imports and 10 percent on aluminium imports would be imposed on the EU, Canada and Mexico on “national security grounds”.
Brussels hit back saying the bloc would slap US imports with additional duties from July. The US products on the list include orange juice, cranberries, bourbon, Levi’s jeans, motorcycles and a variety of steel products.
https://cdn.images.express.co.uk/img/dynamic/78/590x/Bruno-1-970982.jpg?r=1528388443459
French finance minister Bruno Le Maire has accused Donald Trump of a trade war with the EU
https://cdn.images.express.co.uk/img/dynamic/78/590x/secondary/trump-1372480.jpg?r=1528388443567
US President Donald Trump plans to impose trade tariffs on the EU, Canada and Mexico
Mr Le Maire said: “I have openly voiced my disapproval and concern about the decision taken by our ally, the United States, to increase duties on European steel and aluminium.
“The American authorities are hiding behind misleading national security arguments to protect their steel and aluminium industries. This decision is contrary to all international trade rules and contrary to the multilateral order we established together.
“This unjust and unjustified decision sets a highly damaging precedent. Because it only makes it harder for us to convince countries whose trade rules still diverge widely from ours to abide by the principles of international trade.
“With the introduction of these metal tariffs, the United States are drawing us into a trade war, which is in no one’s interest. There are only losers in trade wars, we all know that. And such an escalation of trade tensions is a threat to Europe’s economic recovery.”
https://www.express.co.uk/news/world/970982/donald-trump-use-trade-war-eu-tariffs-populism-france
By ROMINA MCGUINNESS
PUBLISHED: 17:20, Thu, Jun 7, 2018 | UPDATED: 17:20, Thu, Jun 7, 2018
https://youtu.be/OLydo06azAc
The country’s finance chief Bruno Le Maire said while the bloc did not want to enter into a trade war with Washington, it was determined to protect its “economic sovereignty”.
He added trade wars “fuel populism and isolationism” at a time when Europe has been shaken to its core by anti-establishment parties who “feed” on these disputes.
Mr Le Maire said: “By trying to weaken the bloc, the United States is encouraging the populist wave that is threatening Europe.”
And France’s finance chief called on the EU, which “cannot accept nor understand” the tariffs, to work with Washington to find a solution to the dispute.
He said: “Unilateralism leads us to nowhere but conflict… While we do not wish to enter into a merciless trade war, we cannot sit idly while the bloc is hit with unfair tariffs. The European Union is determined to affirm its economic sovereignty.
“And if the Americans wish to re-establish a dialogue with their allies, they must take the first step and demonstrate their willingness to cooperate by sending clear de-escalating signals.”
US President Donald Trump stirred trade chaos last week after his Commerce Secretary Wilbur Ross confirmed that tariffs of 25 percent on steel imports and 10 percent on aluminium imports would be imposed on the EU, Canada and Mexico on “national security grounds”.
Brussels hit back saying the bloc would slap US imports with additional duties from July. The US products on the list include orange juice, cranberries, bourbon, Levi’s jeans, motorcycles and a variety of steel products.
https://cdn.images.express.co.uk/img/dynamic/78/590x/Bruno-1-970982.jpg?r=1528388443459
French finance minister Bruno Le Maire has accused Donald Trump of a trade war with the EU
https://cdn.images.express.co.uk/img/dynamic/78/590x/secondary/trump-1372480.jpg?r=1528388443567
US President Donald Trump plans to impose trade tariffs on the EU, Canada and Mexico
Mr Le Maire said: “I have openly voiced my disapproval and concern about the decision taken by our ally, the United States, to increase duties on European steel and aluminium.
“The American authorities are hiding behind misleading national security arguments to protect their steel and aluminium industries. This decision is contrary to all international trade rules and contrary to the multilateral order we established together.
“This unjust and unjustified decision sets a highly damaging precedent. Because it only makes it harder for us to convince countries whose trade rules still diverge widely from ours to abide by the principles of international trade.
“With the introduction of these metal tariffs, the United States are drawing us into a trade war, which is in no one’s interest. There are only losers in trade wars, we all know that. And such an escalation of trade tensions is a threat to Europe’s economic recovery.”
https://www.express.co.uk/news/world/970982/donald-trump-use-trade-war-eu-tariffs-populism-france