The world is once again on the brink of a new trade war, this time between the United States and the European Union. Donald Trump’s announcement about the possible introduction of tariffs on European goods caused a wave of concern in Brussels and a strong reaction from leading European leaders. Is this part of geopolitical pressure or a genuine economic move? Will the EU be able to defend its interests against Washington’s aggressive trade policy? Will Europe become the next target in the global economic standoff? European mass media are actively analyzing the possible consequences of the trade conflict.
Swedish newspaper The Swedish Daily believes that in the end, Trump and the United States will remain the losers.
«The biggest loss for America is not economic at all. Groundless tariffs against neighbors and allies, which contradict all previously reached agreements, as well as absurd claims on the territory of other states, have shown that the United States under Trump’s leadership has no credibility.
What was promised yesterday can change tomorrow. That the tariffs are «just» a threat — as they have been — became clear Monday night when Trump suddenly decided to delay the implementation of tariffs on Mexican goods for one month. However, trust has already been undermined.»
Danish The politics emphasizes that the European Union must adhere to the principles of free trade more than ever.
«Free trade is the key to Denmark’s well-being and the cornerstone of the European Union. Without the participation of the United States, it will be difficult, but now we are talking about creating alternative structures. Some time ago, the European Union concluded a historic agreement on free trade with the South American countries MERCOSUR. Keep it up! There is an adequate response to Trump’s illegal attacks and his customs war — and, if possible, to defend global free trade. Even without the participation of the United States.»
German edition The mirror indicates the weak preparation of the EU for such a scenario. Hamburg weekly columnist Michael Zauga notes:
«European companies depend on exports to the US, and the armed forces are weak. This is a bad starting position to achieve something in the course of potential negotiations with Trump. … In the end, the EU countries can only hope that the Americans themselves will realize the fact that Trump’s trade policy is contrary to common sense.
… All eyes are on America’s Big Tech billionaires, who are already aware of the dangers of Trump’s high-stakes game.
…[They] could prove that their recent shameful flirtation with the new owner of the White House has at least been useful: they should warn Trump — immediately, loudly and publicly.»
French economic publication Les Echos urges Europeans to find allies in the event of a trade war.
«Before such a threat, Europe must react quickly and clearly — and above all, contribute to forming a camp of defenders of free trade together with Canada, Mexico and even China. This is good, rejecting the dictates of protectionism.
Trade wars produce only losers, but immediately making concessions to Trump, who can make new irrational demands at any moment, is not an option. If we want to avoid war at the cost of a bad deal, then we will get both a bad deal and war. So let’s join forces and declare that a good fight is better than a bad peace in this case.»
Irish Irish Independent draws attention to the fact that in the event of a trade war between the USA and the EU, Ireland will suffer particularly badly.
«Any trade war is capable of causing enormous damage to all parties involved, and Trump has already targeted the European Union. … American tariffs will be a disaster for Ireland. After Germany and Italy, we are the third largest trade balance surplus with the US among all EU countries. …
The leaders of the European Union hope for a quick settlement of the dispute — to at least limit the scope of this trade war. Ireland has not yet fully recovered from the effects of the coronavirus pandemic, the war in Ukraine and the rising cost of living and cannot afford another economic shock now. Irish Prime Minister Michal Martin yesterday absolutely rightly warned against hasty steps.»
At the same time, Hungarian Mandarin notes that the negative effect of the introduction of tariffs may be offset by Trump’s successes in the political arena.
«Trump’s decisions, no matter how painful they are for other countries, are completely understandable, and their possible negative consequences for Hungary can be fully compensated if the president of the United States manages to successfully implement his other big plan, namely, to achieve peace in Ukraine. In this case, all temporary negative consequences for our country’s economy will disappear like smoke.»
