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Europe's Response to US Protectionism
Analysis of the economic consequences of US protectionism and the appropriate response for Europe, advocating for a tactical, targeted approach over generalized tariff increases.
French
France
PoliticsUs PoliticsEuropean UnionFranceUsaEuropeTradeEconomics
CepiiFederal ReserveAutorité De La Concurrence
Donald TrumpRobert LighthizerEmmanuel CombeBarack ObamaJoe BidenMario Draghi
- Should Europe retaliate against the US trade policies with similar measures?
- Europe should avoid generalized, long-term tariff increases. Instead, a tactical approach, using anti-dumping and anti-subsidy measures against specific, symbolic US products, could be more effective.
- What is the overall impact of the US protectionist policies on the American economy?
- The US protectionist shift, starting under Obama and continuing under Trump and Biden, has primarily harmed American consumers through increased prices, with minimal positive effects on employment.
- What is the most effective long-term strategy for Europe to address US protectionism?
- Europe must focus on enhancing its own competitiveness through industrial policy and technological advancements rather than engaging in tit-for-tat tariff increases. Public subsidies and harmonized regulations are key to fostering a stronger European economy.
- Does engaging in a trade war risk further harming European industry's competitiveness?
- While a risk, reduced competitiveness of European industry is a pre-existing issue. Long-term solutions involve strengthening Europe's industrial policy and technological innovation through subsidies and market unification, not escalating trade wars.
- What are the predicted economic consequences of the new tariffs promised by Donald Trump?
- The new tariffs promised by Trump will negatively impact American purchasing power and economic activity, acting as a consumption tax and likely leading to a restructuring of international trade with potential workarounds.