In view of tomorrow’s meeting between European Commission president Juncker, trade commissioner Malmström and US president Trump to discuss trade issues, S&D Group president Udo Bullmann warns of the possible disastrous consequences of an escalating trade war for both the US and Europe:
“We hope that the meeting between the European Commission and Donald Trump in Washington will be more than another show-off of the US president’s habit to alienate friends. Instead, it could be an opportunity for Donald Trump to return to a more reasonable way of policymaking and stop wreaking havoc on global trade. We Socialists and Democrats do not want to see an escalation of the trade conflict but we are determined to protect European workers, industries and the multilateral trading system. Should Donald Trump apply duties on European car imports, the EU must speak with one voice.
“We are convinced that there are no winners in trade wars - only losers and casualties. Applying duties on cars can only bring disastrous consequences for industries and workers, both in the EU and the US. If Trump cares about his country, as he claims, he has to stop this economic odyssey."
“We have concerns regarding global trade and market distortions, but we are convinced that unilateral measures are not the way to go. The EU and the US should work together in the framework of the WTO to promote free, fair and reciprocal trade."