Tuesday, 02 January 2024 12:17 GMT

Medvedev predicts that Trump’s tariffs will turn EU economy into ‘decaying corpse’


(MENAFN) Dmitry Medvedev, former Russian President and current deputy chairman of the Russian Security Council, has strongly criticized the US imposition of "reciprocal" tariffs on EU exports, claiming it will lead to the collapse of the European economy. This week, US President Donald Trump unveiled extensive tariffs aimed at improving the United States’ trade balance, accusing its economic partners of exploiting the US consumer market through protectionist practices and currency manipulation.

Medvedev stated on Thursday that while the tariffs will severely disrupt global trade, Russia will not be significantly impacted, as trade between Russia and the US is minimal. He suggested that Russia should simply wait and watch the EU economy deteriorate, describing it as a "decaying corpse" as a result of the tariffs.

The metaphor, suggesting patient inaction, has been linked to various Eastern philosophies, with some Western sources mistakenly attributing it to Chinese philosopher Confucius. German Economy Minister Robert Habeck compared the potential impact of the tariffs to the unforeseen escalation of the Ukraine conflict in 2022, emphasizing Europe’s lack of preparedness to handle such economic challenges.

Many European leaders and media outlets have condemned the economic consequences of the tariffs, forecasting severe damage to EU member states. However, the US has warned that any retaliatory actions from the EU will lead to even more aggressive measures.

Medvedev has long criticized Brussels for its antagonistic stance toward Russia, particularly in its response to the Ukraine conflict. The EU’s sanctions, which have aimed at reducing energy imports from Russia and curtailing direct trade, have been sharply criticized by some European leaders, including Hungary’s Prime Minister Viktor Orban and Slovakia’s Robert Fico, for making EU products less competitive and causing significant economic harm.

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