Trump's Tariff Barrage Forces the EU Into a Corner
Former WTO chief Pascal Lamy says Europe should try to build a global trading system that cuts out the Americans. That’s a tall order for a soft power.
While Donald Trump’s trade strategy is all over the place, his willingness to use American power – however haphazardly – isn’t easy for Europe to resist.
Photographer: Sean Rayford/Getty Images North AmericaIs there any method to Donald Trump’s madness on trade?
Politicians and investors are all struggling to make sense of the U.S. president’s tendency to stop, go, and reverse course in his dealings with China and Europe. Financial traders went to sleep on Monday basking in the glow of a trade truce with Beijing. They woke up on Tuesday to the news that the Americans had expanded a list of European products that may be whacked by tariffs (under the guise of the long-running state subsidy dispute between Airbus SE and Boeing Co.). Trump hasn’t lost any of his willingness to aim the trade weapon at friends, allies and partners, however harmful the consequences might be for his own side.