'Senseless disputes': E.U.'s Tusk says Trump's trade wars are damaging global economy
Source: Washington Post
European Council President Donald Tusk on Saturday said escalating trade tensions between President Trump and other world leaders risk throwing the world into recession, bemoaning “senseless disputes” that had ripped countries apart. “This may be the last moment to restore our political community,” he told reporters at the beginning of the Group of Seven summit here.
Tusk’s comments came one day after Trump and Chinese President Xi Jinping dramatically escalated a fierce trade war between the two countries. Tusk is attending the G-7 summit with Trump and leaders from France, Germany, the United Kingdom, Italy, Canada and Japan, and he said the summit comes at a perilous time.
“For me it’s absolutely clear that if someone, for example .?.?. the United States and President Trump, uses tariffs and taxation as a political instrument, tool for some different political reasons, it means that this confrontation can be really risky for the whole world, including the E.U.,” Tusk said. “This is why we need the G-7.”
But in a sign that leaders are bracing for things to only get worse, Tusk said the E.U. was ready to retaliate against Trump if the U.S. leader followed through on some of his trade-related threats directed at France. Trump has said he will impose tariffs on French wine because France recently imposed taxes that impact U.S. technology companies. “If the U.S. imposes tariffs on France, the E.U. will [respond] in kind,” he said.
Read more: https://www.washingtonpost.com/business/economy/senseless-disputes-eus-tusk-says-trumps-trade-wars-are-damaging-global-economy/2019/08/24/bc1f6502-c656-11e9-9986-1fb3e4397be4_story.html
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