Trade Reactions

Foreign trade reactions are pouring in. Here's a summary of the top replies from foreign officials.

The New York Times has an interesting article on Strong Reactions to U.S. Trade Moves.

I condensed some these quotes.

  1. Emmanuel Macron, France’s President: "If attacked, we will respond without weakness. We talk about everything, in principle, with a friendly country that respects the rules of the W.T.O. We talk about nothing, in principle, when it is with a gun to our head."
  2. Charles Michel, Belgium’s Prime Minister: "Maybe it’s a way to exert strong pressure on the European Union, to start some sort of a negotiation with a revolver to our head. That’s a strange way of negotiating with an ally."
  3. Chinese Commerce Ministry Representative: "China does not want to fight a trade war but is absolutely not afraid of a trade war."
  4. Federica Mogherini, the European Union’s Foreign Policy Chief: "This European Council will send a strong message on where the European Union stands in relation to trade: No protectionism."
  5. Gabriel Felbermayr, Director of the Ifo Center for International Economics in Munich: "The long-term costs of weakening the W.T.O. cancel out the short-term advantages of temporarily preventing a trade war between the E.U. and the U.S.A. The E.U. should not let itself be drawn into this game."

The most hypocritical comment is quote number 4. "No protectionism". What a joke. The EU is among the worst in the world at protectionism, arguably the worst with agricultural tariffs.

Mike "Mish" Shedlock

Comments (12)
No. 1-12
Steve333
Steve333
Sechel
Sechel

Trump's policies are not thought out. There's a great deal of economic history showing this is the wrong policy. And judging by the steel exemptions its clear this is also an administration that doesn't engage in scenario analysis or vet its decisions, otherwise it wouldn't have to roll them back.

caradoc-again
caradoc-again

The EU are unbelievable and the Belgian PM one of the largest f-wits on the planet. Their hypocrisy stinks. It would be funny except for the fact the EU actually believe their own B.S. Good luck to the USA even if Trump is not my cup of tea.

caradoc-again
caradoc-again

Mogherini at al must be scared stiff that the customer of last resort might go on strike. It puts the entire EU in jeopardy if Germany catches a cold. Germany, running a massive trade surplus, USA goes on strike and UK slows down and becomes a less useful customer = bye, bye EU welfare gravy train.

caradoc-again
caradoc-again

These are the same ass-holes that threaten to punish the UK because it's people decided they no longer wanted to be in the EU. Anti-democratic hypocrites. All the while they live under the defence umbrella of others, unwilling to pay their fair share. They should kiss the feet of the US and UK.