403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
US wants to “weaken and subordinate” Europe via economic competition
(MENAFN) French President Emmanuel Macron warned on Tuesday at the World Economic Forum in Davos that the United States is attempting to “weaken and subordinate” Europe through economic measures.
He cautioned that trade wars and escalating protectionism would ultimately harm all parties and urged European leaders to defend the region during what he described as an unprecedented period of instability.
“Competition from the United States through trade agreements that undermine our export interests, demand maximum concessions, and openly aim to weaken and subordinate Europe, combined with an endless accumulation of new tariffs, is fundamentally unacceptable,” Macron said.
His remarks come after US President Donald Trump threatened additional tariffs on European countries opposing his Greenland annexation plans. Last week, Trump announced a 10% levy on eight NATO nations that sent small military contingents to the autonomous Danish territory, heightening transatlantic tensions.
Macron stressed that the EU possesses “very powerful” trade tools and should use them when its interests are disrespected, referring to the bloc’s Anti-Coercion Instrument, also called the “trade bazooka.” The EU is also considering reinstating a previously suspended €93 billion ($108 billion) package of retaliatory tariffs on US goods. The measures, originally prepared after Trump’s first tariff threats, could automatically resume on February 6 if no agreement is reached.
He cautioned that trade wars and escalating protectionism would ultimately harm all parties and urged European leaders to defend the region during what he described as an unprecedented period of instability.
“Competition from the United States through trade agreements that undermine our export interests, demand maximum concessions, and openly aim to weaken and subordinate Europe, combined with an endless accumulation of new tariffs, is fundamentally unacceptable,” Macron said.
His remarks come after US President Donald Trump threatened additional tariffs on European countries opposing his Greenland annexation plans. Last week, Trump announced a 10% levy on eight NATO nations that sent small military contingents to the autonomous Danish territory, heightening transatlantic tensions.
Macron stressed that the EU possesses “very powerful” trade tools and should use them when its interests are disrespected, referring to the bloc’s Anti-Coercion Instrument, also called the “trade bazooka.” The EU is also considering reinstating a previously suspended €93 billion ($108 billion) package of retaliatory tariffs on US goods. The measures, originally prepared after Trump’s first tariff threats, could automatically resume on February 6 if no agreement is reached.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment