The New York Times has an interesting article on Strong Reactions to U.S. Trade Moves.
I condensed some these quotes.
- 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."
- 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."
- Chinese Commerce Ministry Representative: "China does not want to fight a trade war but is absolutely not afraid of a trade war."
- 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."
- 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